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Huawei forecasts higher earnings despite US hostility
Summary: Chinese networking giant expects its net profit for 2013 to climb 34.6 percent to hit US$3.41 billion on higher revenue of US$38.19 billion. The robust performance comes despite threats to ban its products and a tensed relationship with the U.S. government.
Huawei Technologies says it has achieved its business targets for 2013 and expects to report a 8.6 percent climb in revenue to 239.03 billion yuan (US$38.19 billion), from 220.2 billion yuan in 2012.
Operating profit for 2013 also increased by 41 percent to 29.13 billion yuan (US$4.73 billion), while net profit climbed 34.6 percent to hit 21 billion yuan (US$3.41 billion) from 15.6 billion yuan (US$2.54 billion) in 2012. In a statement released Monday, the Chinese networking giant attributed the strong showing to a "favorable global macroeconomic and industry environment" that's moving toward wider connectivity as well as growth in its carrier business.
Eric Xu, Huawei's Rotating and Acting CEO, said: "Our significant global presence has helped us achieve stable and continuous growth in the carrier network, enterprise, and consumer businesses."
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