Huawei says 2014 profit growth slows to 17 percent, sales up 20 percent

Industries Associated Press

Huawei Technologies Ltd., the world's biggest maker of telecommunications equipment, says profit growth slowed last year while sales accelerated.

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Huawei on Tuesday said its 2014 profit would be 33.9 to 34.3 billion yuan ($5.5 to $5.6 billion), up about 17 percent over the previous year.

That was down from 2013's growth of 40.5 percent. But the company said sales probably rose 20 percent to 287 to 289 billion yuan ($47 to $47.4 billion), more than double the previous year's growth of 8.5 percent.

Its finalized audited results will be released by March or April.

Huawei is privately held but has released annual results in recent years in an attempt to ease concern in the United States and some other countries that the company might be a security risk.