Huawei revenue rose 8.5 percent to $38.49 billion (CNY239 billion

BAIJING (MEDIA )

Chinese telecom network vendor said its revenue rose 8.5 percent to $38.49 billion (CNY239 billion). Its net profit was $3.38 billion (CNY21 billion).

Eric Xu, rotating and acting CEO of Huawei, said the company’s all divisions – devices, enterprise IT, telecom network — has performed well. Macroeconomic and industry environment, as well as the effective execution of its company strategy were main growth drivers.

ZTE, one of the rivals of Huawei, last week said its 2014 revenue dipped 10.6 percent to $12.11 billion (RMB 75.2 billion). ZTE could not report an increase in its revenue despite its 4G LTE business income growing 200 percent to $800 million.

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