HONG KONG, April 22 Huawei Technologies,
China's largest telecoms equipment maker, said its net income
rose 20 percent in 2008 on robust sales due to its leadership
in emerging markets and increasing demand for broadband
solutions in developed markets.
The Shenzhen-based Huawei [HWT.UL], which ranked No. 3 in
the global mobile equipment market in 2008, posted yearly net
income of $1.15 billion against $957 million in 2007.
Revenue rose 43 percent to $18.3 billion while its
operating profit margin rose by 3 percentage points to 13
percent, it said in a statement embargoed until Wednesday.
"We...expect the momentum to continue this year," William
Xu, chief marketing officer of Huawei said in the statement.
Huawei and smaller rival ZTE (0763.HK) have been expanding
rapidly, taking market share with aggressive pricing from
global giants such as Nokia NOK1V.HE and Nortel Networks
Huawei said markets outside of China now account for over
75 percent of its total sales.
The company expects sales to exceed $30 billion in 2009,
representing a rise of 29 percent year-on-year, slower than a
46 percent increase in 2008.
Fitch Rating said in a report earlier this year that the
outlook for the global telecom equipment sector in 2009 was
negative amid margin pressures in both handset and
(Reporting by Alison Leung; Editing by Valerie Lee)