Huawei sales revenues to hit $ 35.5 bn

Huawei, a leading global information and communications technology (ICT) solutions provider, has released its 2012 financial performance results.
Huawei Chief Financial Officer Cathy Meng said the company achieved efficient growth in 2012 by focusing on customers, streamlining management and improving efficiency.
Huawei expects its 2012 global sales revenues to reach $ 35.5 billion, an 8 percent year-on-year increase, with a net profit of $ 2.4 billion, a 33 percent increase from the previous year.
The January earnings disclosure is part of Huawei's ongoing commitment as a private employee-owned company to be more open and transparent with stakeholders.
The 2012 results audited by KPMG will be outlined in the company's annual report, which will be released in April.
Meng is also positive about the industry's future growth prospects with a projection that Huawei expects its overall group revenue to grow 10-12 percent in 2013.
The CFO said Huawei's success in 2012 can be attributed to maximizing value for its customers.
"We insist on strictly controlling general and administrative expenses while allocating more resources to bolster the front line and ensure continuous improvements on customer delivery and service quality," said Meng.
"In addition, Huawei continued its ongoing management transformation, raising combined operating efficiency with an integrated financial services program."
Continuous innovation focused on customer needs is also an important driving force behind Huawei's growth.
The company has cumulatively invested $ 19.2 billion into research and development over the past 10 years, including a $ 4.8 billion investment in 2012, accounting for more than 13 percent of the year's revenue.
Overseas markets consolidated their presences in their regions, with 66 percent of Huawei's overall revenue generated outside China.
Among the overseas revenue, the Asia- Pacific region saw revenue of $ 6 billion, Europe, Middle East and Africa recorded $ 12.4 billion, and the Americas contributed $ 5.1 billion.