Huawei reports strong 2009 profit increase

Huawei Technologies saw its full-year profit double as the company not only won order in emerging markets, but also from its growing presence in the North American telecom market. In North American and Asian markets, excluding China, Huawei's contract sales were up 53 and 43 percent, respectively.

According to its recently released annual company report, Huawei's net income was $2.7 billion up from $1.14 billion in 2008. Company sales also were up 19 percent to $21.8 billion.    

Going into 2010, Huawei forecasts that the burgeoning demand for wireless and broadband access equipment will drive up company revenue 20 percent.

"Driven by the development of broadband in 2010, particularly the advancement in mobile broadband, Huawei will continue to maintain a strong and steady momentum across our key business areas," Ren Zhengfei, Huawei's CEO said in the report.

For more:
- Bloomberg has this article
- Wall Street Journal has this article

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