Huawei Technologies Ltd. looks to have captured the No. 2 spot worldwide amongst wireless telecom vendors more than doubling its profits in 2009 to $2.7 billion compared with $1.15 billion posted in 2008, and revenues increasing from $18.3 billion in 2008 to $21.8 billion in 2009.
The results pushed the company past Ericsson ($1.6 billion) as the most profitable telecom vendor and past Alcatel-Lucent ($20.4 billion) into the No. 2 spot in total sales. Ericsson posted $29 billion in sales in 2009.
At the end of 2009, Huawei said it was a partner with 45 of the world’s top 50 telecom operators, and that its strong year-over-year growth was propelled by 3G deployments in China and rapid development of the mobile market in India. The company added that it expects to post a 20% increase in sales in 2010.
Huawei slips past Alcatel-Lucent to No. 2
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