May 05 2012
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Huawei posts $32.4b income in 2011, increases 11% y-o-y
HUAWEI , a leading global information and communications technology (ICT) solutions provider, posted sales revenues of $32.40 billion in 2011 - an 11.7 percent growth over the previous year. Huawei also reported net profits of $1.85 billion in line with the company's revenue expectations.
Huawei Middle East, which has offices in both Riyadh and Jeddah, today has a presence across 10 countries in the region with over 3,500 employees - of whom over 62 percent are local hires.
The company has featured prominently over the last year when it comes to deployment of next-generation ICT networks in Saudi Arabia, working with top operators in the Kingdom to deploy the Middle East's first ever commercial Long Term Evolution (LTE) networks promising faster broadband access to the public.
Earlier this year, Huawei also partnered with operators like Etihad Etisalat (Mobily) to implement the Middle East's first commercial Service Delivery Platform involving landmark advances to nearly every segment of the operator's nationwide mobile network.
Huawei continued to grow and consolidate its market presence globally in 2011, generating sales revenues of $10.42 billion, up 5.5 percent, from the domestic Chinese market; and recording sales revenues of $21.98 billion, an increase of 14.9 percent, from overseas markets.
Huawei's global business performance in 2011 was buoyed by particularly impressive growth achieved by its Enterprise and Device business groups-both of which are now expanding within the KSA market.
Huawei recorded global sales revenues $7.08 billion) in its Consumer business, an increase of 44.3 percent over 2010, with robust growth in the smart devices segment shipping close to 150 million units last year.
Huawei's Enterprise business group also increased sales revenues by 57.1 percent year-on-year, generating $1.46 billion in its first full year of operation as one of Huawei's core business groups.
"In 2011, Huawei increased its investment in the enterprise and consumer business segments, and achieved all-around growth on the back of strong business momentum generated by the company's successful transformation into a complete end-to-end ICT solutions provider," said Mr. Ken Hu, Rotating and Acting CEO, Huawei. "We have made strategic investments, augmented our R&D capabilities and deployed these resources globally, and implemented a future-oriented business architecture that puts Huawei in a confident position for sustained growth."
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