Huawei, the world’s second largest telecom solutions provider after Ericsson, on Wednesday said its worldwide profit for 2009 jumped 133% on a yearly basis to $2.7 billion (Rs 12,150 crore approximately). Huawei India, the local arm of the Chinese company, contributes around 10% to the global revenues.
?Huawei grew fast due to the deployment of 3G networks in China as well as rapid development of the mobile market in India,? Huawei Technologies CEO Ren Zhengfei said. The company?s annual report said that its revenues from sales rose by 19% to $21.8 billion (around Rs 98,100 crore).
The company has committed an investment of $500 million (approximately Rs 2,250 crore) in India in the next five years. The company is planning to grow its revenues in India from currently $2.4 billion (about Rs 10,800 crore) in 2009 to $3.5 billion (about Rs 15,700 crore) by 2010-11. It will do so by cashing on the opportunity in the equipment business as new operators are rolling out their services, by expanding its customer reach in the terminal business (handsets and dongles) by getting into direct retailing of handsets, capturing on the 3G opportunity and increasing its presence in the managed services business.