{"id":9909,"date":"2014-03-31T09:53:04","date_gmt":"2014-03-31T09:53:04","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=9909"},"modified":"2014-03-31T09:53:04","modified_gmt":"2014-03-31T09:53:04","slug":"huawei-profits-surge-34-on-strong-china-demand","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=9909","title":{"rendered":"Huawei profits surge 34% on strong China demand"},"content":{"rendered":"<figure id=\"attachment_9910\" aria-describedby=\"caption-attachment-9910\" style=\"width: 593px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/73916535_480271245.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-9910\" alt=\"Huawei's growth has been helped by strong demand for smartphones in China \" src=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/73916535_480271245.jpg\" width=\"593\" height=\"339\" srcset=\"https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/73916535_480271245.jpg 593w, https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/73916535_480271245-300x171.jpg 300w\" sizes=\"auto, (max-width: 593px) 100vw, 593px\" \/><\/a><figcaption id=\"caption-attachment-9910\" class=\"wp-caption-text\">Huawei&#8217;s growth has been helped by strong demand for smartphones in China<\/figcaption><\/figure>\n<p id=\"story_continues_1\">Chinese telecoms equipment maker Huawei has reported a 34% increase in annual profits, its fastest growth in profits for four years.<\/p>\n<p>Net profit for 2013 was 21bn yuan ($3.38bn; \u00a32bn), compared with 15.6bn yuan the year before.<\/p>\n<p>Huawei said the growth was due to strong demand from China, as the country expands its 4G mobile network technology.<\/p>\n<p>China accounted for one-third of the company&#8217;s total revenue.<\/p>\n<p>&#8220;Thanks to the favourable global macroeconomic and industry environment, as well as the effective execution of our company strategy, Huawei basically achieved our business targets for 2013,&#8221; said Huawei current chief executive Eric Xu\u00a0<a href=\"http:\/\/pr.huawei.com\/en\/news\/hw-331129-annualreport.htm#.UzjtVfmSzy0\">in a statement<\/a>.<\/p>\n<p>The company says it expects revenue will grow by 10% this year, and is hoping for global sales of $70bn by 2018.<\/p>\n<p>Smartphone help<\/p>\n<p>Huawei, which has traditionally concentrated on making telecoms network equipment, has benefited by diversifying into fast-growing sectors such as smartphone manufacturing.<\/p>\n<p>The company said it shipped enough smartphones last year to allow it to become the third-biggest smartphone manufacturer globally.<\/p>\n<p>It also recently expanded into the market for wearable technology, introducing its hybrid Talkband smart device in February.<\/p>\n<p>Furthermore, China&#8217;s investment in fourth-generation mobile network technology has led to a steady stream of revenue for the firm.<\/p>\n<p>That has helped to offset sluggish sales in Europe, as well as Huawei&#8217;s difficulties in the US and Australia, where local regulators have raised security concerns.<\/p>\n<p>The US government has long seen Huawei as a potential security threat and has blocked some business deals in the US over fears that it would open the door to Chinese military hackers.<\/p>\n<p>Huawei has dismissed these claims as nationalism.<\/p>\n<p>Last week, a report in the New York Times alleged that the US National Security Agency (NSA) had infiltrated Huawei&#8217;s servers.<\/p>\n<p>In response, China has demanded a clear explanation from the US government.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese telecoms equipment maker Huawei has reported a 34% increase in annual profits, its fastest growth in profits for four years. Net profit for 2013 was 21bn yuan ($3.38bn; \u00a32bn), compared with 15.6bn yuan the year before. Huawei said the growth was due to strong demand from China, as the country expands its 4G mobile [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":9910,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[18],"class_list":["post-9909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-dr-akwasi-osei"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9909"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9909\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/9910"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}