Huawei rings in H1 revenue jump

Huawei Technologies Co Ltd, the nation's biggest telecom equipment and mobile phone manufacturer, said on Wednesday first-half year revenue reached 113.8 billion yuan ($18.4 billion), up 10.8 percent year-on-year.

The company did not disclose the net profit figure for the first six months, but predicted its net profit margin would stand between 7 percent and 8 percent for 2013.

“Revenues and profit are in line with our expectations,” said Cathy Meng, Huawei's chief financial officer.

“Looking ahead, Huawei will continue to focus on our pipe strategy, increase investment in core growth areas for the business, and boost efficiency through a series of operational and management reviews and improvements,'' Meng said.