updated 08:30 pm EDT, Mon April 23, 2012
Huawei saved mostly by smartphone, tablet pushes
Huawei on Monday said that its profit had tumbled 53 percent in 2011. The company made the equivalent or $1.8 billion and primarily blamed a tough world economy and resulting currency shifts. Most of its 2011 sales were buoyed by its home device group, whose modems, smartphones, and tablets saw revenue jump 44.3 percent; about 20 million were smartphones.
The 2011 results came just on the edge of the company swinging its strategy heavily towards smartphones. It's now focusing much more on high-end devices like the Ascend D quad and wants to be a technology leader along with getting more share.
Huawei may face stiff opposition for 2012. Like other mainland Chinese technology companies such as ZTE, Huawei has faced opposition from companies worried that Chinese companies may be used as backdoors for security breaches. Australia recently blocked the use of Huawei for an equipment deployment on security grounds.
Most of its advantage until now has been focused on low-end smartphones and cellphones, which play well in China but have left Huawei a minor player in the US and Europe. [via Forbes]