Huawei reports 34.4% growth in net profit for 2013, its strongest growth in four years

Huawei reports 34.4% growth in net profit for 2013, its strongest growth in four years
Chinese technology firm Huawei reported its strongest profit growth in four years on Monday, led by strong demand for its smartphones. Besides producing handsets, the company is also known for networking equipment. Huawei is now the second largest network equipment provider and third largest smartphone manufacturer on the planet.

The company's latest earnings report got a boost from Chinese carriers who are now switching over to 4G LTE networks. Huawei is missing out in the U.S., where it is not allowed to sell its telecom equipment due to fears that the company's pipelines are being used as a conduit for espionage by the Chinese government. For the all of 2013, Huawei reported net profit of 21 billion Yuan ($3.38 billion USD).  That was a gain of 34.4% from the 2012 numbers. Profit margins rose for the second consecutive year.

Revenue amounted to 238 billion Yuan ($38.3 billion USD) and Huawei says it expects revenues to rise 10% this fiscal year. In addition, the company says that by 2018, it expects to report revenue of 435 billion Yuan  ($70 billion USD).

source: Reuters

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11 Comments

1. Lampriya

Posts: 245; Member since: Oct 05, 2013

Chinese product is cheap in price and also in quality....

2. Tizen007

Posts: 575; Member since: Jan 07, 2014

For now... but soon you will see them competing fiercely with Apple, LG, and Samsung.

6. Ashoaib

Posts: 3269; Member since: Nov 15, 2013

Cheap in quality? well i think you purchased a cheap quality one... try finding a good quality and you will be amazed with the quality vs price ratio... true value for money... and huawei is not a cheap quality at all, it is as premium as any other brand... recently all chinese brands are offering very premium quality phones... only problem is, they dont bother to update android

7. Finalflash

Posts: 4062; Member since: Jul 23, 2013

Dude calm down, that comment was referring to the iPhone, although I don't know why iFans think its cheap.

9. tuminatr

Posts: 1104; Member since: Feb 23, 2009

where are almost all of our smartphones manufactured? yep china

3. Lampriya

Posts: 245; Member since: Oct 05, 2013

Only in their homeland coz people there love cheap price gadget.

4. kent.carandang

Posts: 8; Member since: Mar 28, 2014

Yeah its cheap but good in quality because i have one of it. Just their mobile phones have lack of support and updates. That's all thank you and respect my comment!!

5. RogueRequest

Posts: 4; Member since: Jan 17, 2013

I am using a Mercury right now, and it's a pretty damn good phone. At the time it came out, it was the best phone that Cricket offered and it's still on par with everything Cricket offers with the exception of the Galaxies and the iPhone, which cost more than double what the Mercury originally went for.

8. Tsepz_GP

Posts: 1134; Member since: Apr 12, 2012

Excellent numbers by Huawei, and without even being in the USA, I know the Sony fans love using that excuse for why Sony isn't in the top 5, well there you go, Huawei barely in the USA to and are growing at a very rapid rate. They are not just growing in China, the African continent is a major cash cow for Huawei to, they are selling phones at the top end going against the S4s, Z1s, Ones etc... With the Huawei P6 and they are selling super cheap phones at the bottom e.g. The Y300 that is worth around R440 (~ $40).

10. Odiin

Posts: 373; Member since: Apr 23, 2013

- 1 Why do you even comparing Sony with Huawei? There is a difference, a lot of. What a pathetic logic you are using to bash a Sony, You are a blind Sony hater everyone knows. Apple's few phones and Samsung's never ending laundry lists of phones. Both of are market leaders but there is a lot of differance, No two companys are same.,

11. RogueRequest

Posts: 4; Member since: Jan 17, 2013

I just wish that Cricket would start offering some of the higher end Huawei devices at some point.

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