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Huawei to purchase US$6 bln parts from 3 US firms

Feb. 20, 2012 (China Knowledge) - Huawei Technologies Co Ltd, the world's second-largest telecom equipment maker, has announced that it will sign contracts worth a total of US$6 billion with Qualcomm Inc, Broadcom Corp and Avago Technologies to purchase components in the next three years.
The procurement contract reaffirms Huawei's determination to become a local economy contributor in the U.S., said the firm's Senior Corporate Vice President Chen Lifang.

Since 2001, Huawei, China's No. 1 telecom equipment supplier, launched operations in the U.S., the company has teamed up with about 280 U.S. technology providers, said Spokesperson Bill Plummer without disclosing details of the new contracts with the three U.S. firms.

Huawei's total procurement contracts from the U.S. reached US$5 billion in 2010 and US$6.1 billion in 2011, which brought the firm's operating revenue from US$28 billion to US$32 billion, Plummer added.

In the first half of last year, Huawei reaped RMB 12.4 billion in operating profit. Chief Financial Officer Meng Wanzhou said the company targets RMB 199 billion-sale revenue for 2011.
Huawei has yet to release its fiscal report for last year.

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