Huawei reports USD 4.8 billion profit in 2013

China's top telecom firm Huawei Technologies estimated its operating profit jumped 47 per cent in 2013 to about USD 4.8 billion on the back of reduced costs and improving business with consumers and enterprises.
Huawei forecasts of 28.6 billion yuan to 29.4 billion yuan (USD 4.8 billion) in unaudited operating profit in 2013, chief financial officer Cathy Meng was quoted as saying by the Chinese state media here today.
Revenue of the telecom equipment maker is estimated between 238 billion yuan and 240 billion yuan in 2013, up about 8.6 per cent, but lower than its earlier projection of 10 per cent growth.

The improvement came despite setbacks in the United States and Australia and a cyber security investigation in Britain, state run Xinhua news agency reported.
Huawei has sought business in developing markets and Europe and made progress in building a 4G mobile network in Europe, Meng said, attributing the performance to growth in both consumer and enterprise business, plus cuts in management cost.
Meng predicted annual revenue growth of 10 per cent in the coming five years, including 2014.

Huawei ploughed back 33 billion yuan, 14 per cent of its sales revenue, into research and development in 2013, consistent with its policy.

The firm spent 153.9 billion yuan on research from 2004 to 2013.
Huawei, based in Shenzhen, is the world's second largest supplier of telecom-networking equipment, after Sweden's Ericsson.