Comment on China's Huawei Says Profit Fell 53% Last Year

China's Huawei Says Profit Fell 53% Last Year

Huawei Technologies said last year?s earnings fell by more than half due largely to a weak global economy and exchange rate fluctuations. The Shenzhen-based telecom company reported that net profit fell 53% to 11.6 billion yuan ($1.8 billion) in 2011, while revenue rose 11.7% to 203.9 billion yuan ($32.4 billion).

 

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