Huawei reports 2007 revenue jump

As most companies are preparing to report second-quarter 2008 earnings, China's Huawei Technologies has just reported its full-year 2007 earnings. The company reported revenues of $12.56 billion for last year, up 48 percent from the previous year and good enough to help make Huawei the world's fifth-largest equipment vendor. The company previously reported $16 billion worth of contract sales for 2007, and is now saying that about 72 percent of that figure came from deals outside China.

The company's net income for 2007 was $674 million, a jump of about 32 percent from 2006. Huawei now claims 35 of the top 50 carriers in the world as its customers. Like other major equipment vendors, Huawei also recently has been looking more toward software, OSS and services as future under-pinnings of growth.

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