Huawei is optimistic on the outlook of the telecoms industry, and is targeting a 10 percent compound annual growth rate over the next five years.
In a statement Monday, the Chinese telecoms gear maker booked a 32 percent jump in net profit for 2012 at 15.38 billion yuan (US$2.4 billion), which it attributed to improved operational efficiency. It posted sales revenue of 220 billion yuan (US$35.5 billion).
Guo Ping, Huawei's rotating and acting CEO, noted telecom networks had yet to meet the requirements for ubiquitous connections such as zero wait time, ultra broadband, and smart applications.
"In the future, ICT will continue to grow, with new opportunities coming from cloud computing, BYOD (Bring Your Own Device), and Big Data, and feature phones being replaced by smartphones at a faster rate," said Guo.
However, there is likely to be little traction in the United States market where a Huawei executive reportedly admitted international security concerns would dampen the company's growth prospects. Government officials in Europe and the U.S have advised caution when using or purchasing Huawei's equipment, as well as networking products produced by ZTE--due to their alleged links to the Chinese military.