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Huawei Had a Great 2008, Prepares for Even Better 2009

There’s no recession for Huawei, as it seems that the company based in Shenzhen, China made quite a profit in 2008 and is getting ready for a similar performance in 2009. Huawei has just posted an annual net profit of $1.15 billion, 20% more than the year before. However, the company also lost $776 million, as the yuan gained against the dollar.

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Huawei does business mostly outside of China, supporting carriers all over the world, who choose to use this brand instead of the rivals from Ericsson, Alcatel-Lucent or Nokia Siemens. One of the most recent examples is the cable provider Cox, choosing Huawei as a supplier for its 700 MHz network.

While most companies post financial losses, cut jobs and decrease production, Huawei is announcing a growth rate of 29% for 2009. Impressive? Yes, it is!

[via IntoMobile]