Huawei net profit more than doubles last year

  Huawei, a China-based leading telecommunications solutions provider, said Wednesday its net profit in 2009 reached 18.3 billion yuan (2.68 billion U.S. dollars), more than double that in the previous year.

  Net profit for 2008 was 7.85 billion yuan.

  Business revenue was 149.1 billion yuan, up 19 percent year on year, Huawei said in its annual business report.

  Huawei's chief sales and services officer, Hu Houkun, said the company's steady growth was a result of a clients-oriented innovation strategy, which better helped telecommunications service providers increase profits and strengthen competence.

  The company now serves 45 of the top global 50 telecommunications providers, up from 36 in 2008, said Hu Houkun.

  The company expects a further 20 percent growth in sales this year as the convergence of fixed and wireless telecommunications networks, and intelligent devices are both growing markets for the company.