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

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).