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Huawei reported 30% profit increase in 2010

The Chinese company Huawei, which is one of the largest manufacturers of telecommunications equipment worldwide, announced profit growth of 30% for 2010. The main contribution to improvements resulting played strong sales of the company outside the Chinese market. The report of the company shows a profit of 23.76 billion yuan (3.64 billion dollars) after the 2009 positive result was 18.27 billion yuan, or about 30% less. The main profit growth came from increased sales to countries in North America and former Soviet republics. Overall growth in sales abroad amounted to 34%, the total value for 2010 is 120.4 billion yuan. By Huawei indicate that prospects for company performance in the U.S. market remain quite unclear. Among the reasons for this is the refusal of the authorities in the country to enable Huawei to acquire Company 3Leaf Systems.
"Huawei will likely stand out as a company with the fastest rate of sales growth in the sector," said analyst Ren Wenyi of First Capital Securities Reuters. According to him, over the next three to five years, the company will continue to grow, increasing their market share significantly in Europe and the USA. An interesting detail of the data published today is the record of the board of directors of the company, which has so far been kept secret. It shows that the founder is Shanfey Rehn, a former serviceman and who started the business with only about 3200 dollars capital.