Huawei 2015 profit jumps 32 percent on smartphone demand


BEIJING (AP) — Chinese telecoms equipment maker Huawei says its 2015 profit jumped 32 percent on strong sales of smartphones and switching gear for wireless networks.

Huawei Technologies Ltd. said Friday it earned 36.9 billion yuan ($5.7 billion) on global revenue of 395 billion yuan ($60.8 billion).

Huawei, the first Chinese company to break into the top ranks of global technology providers, is privately held but releases annual results in an attempt to ease concern in the United States and some other countries that it might be a security risk.

The company, based in the southern Chinese city of Shenzhen, said sales of smartphones and other consumer technology rose 73 percent to 129.1 billion yuan ($19.9 billion).

Sales of network gear to carriers rose 21 percent to 232.3 billion yuan ($35.8 billion).