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Profits for Chinese tech behemoth Huawei rose 33 percent last year

AP
January 22, 2013, 4:28 pm TWN

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BEIJING -- Chinese tech giant Huawei has reported details of its 2012 financial performance as part of efforts to increase transparency and allay Western concerns the network equipment supplier might be a security risk.

The company's CFO, Cathy Meng, said at a news conference Monday annual profit rose 33 percent to 15.4 billion yuan (US$2.4 billion). She said the event was the first of its kind and part of an effort to “honor our commitment to transparency.”

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