Huawei Expects 10%+ Growth in 2013

Huawei Technologies Co. Ltd. generated revenues of 220.2 billion yuan renminbi (US$35.4 billion) and net income of RMB15.4 billion ($2.47 billion) in 2012, the company announced Monday. The numbers are in line with those included in a memo issued on Dec. 31, 2012. (See Huawei Memo Suggests Major 2012 Growth.) In 2011, Huawei reported revenues of RMB203.9 billion ($32.7 billion) and net profit of RMB11.65 billion ($1.87 billion). Huawei says it will publish its audited results in its 2012 annual report, which is due in April. The company split out its sales numbers across its three main divisions, with the Carrier Network group still the largest by far, generating 2012 revenues of RMB160.3 billion ($25.75 billion). The Consumer products group had sales of RMB48.4 billion ($7.8 billion), while the Enterprise unit generated revenues of RMB11.5 billion ($1.85 billion). For more details, including a geographic breakdown of the company's sales, see this press release. For 2013, Huawei expects its total revenues to increase by 10-12 percent year-on-year: That could take this year's sales to almost $40 billion. — Ray Le Maistre, International Managing Editor, Light Reading