Huawei, the world's second-largest telecoms equipment maker, yesterday reported a jump in its profit margins for 2009 as it outgrew rivals with a boost in its China home market.
Net profit for 2009 was Rmb18.3bn ($2.7bn), up 133 per cent from a year earlier, mainly from foreign exchange gains, the company said. Without the forex factor, net earnings rose 26 per cent on a 19 per cent increase in revenue.
While the pace of revenue increase was sharply down on the 40 per cent growth rate in 2008, the company's growth was still exceptional in a shrinking market last year.
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