Huawei says profits increased by 33 percent in 2012, despite US security concerns

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Huawei today announced details about its 2012 financial performance, amid lingering security concerns over the company’s alleged ties to the Chinese government. At a press conference held Monday, Chief Financial Officer Cathy Meng said Huawei’s net profits rose by 33 percent last year, reaching 15.4 billion yuan ($2.5 billion). This marks a notable turnaround from 2011, when the phone manufacturer saw profits of 11.6 billion yuan ($1.9 billion).

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