The company said in an e-mail its unaudited revenue in 2009 amounted to $21.5 billion, up 17% from $18.3 billion in 2008. But the growth was much slower than the 43% it saw in 2008, reported Dow Jones.

The company will benefit from stronger demand for network equipment as carriers expand the rollout of third-generation mobile services in China, said analysts.

Globally, telecom equipment vendors have suffered as carriers have sought to cut costs, and the construction of third-generation wireless networks, a boon to vendors previously, has gradually wound down in developed markets.

Huawei’s share of the global infrastructure market almost doubled in revenue terms to 20.1% in the third quarter from 10.9% a year earlier, taking the second spot after Sweden’s L.M. Ericsson Telephone Co., the world’s largest network equipment vendor, according to market research firm Dell’Oro.

In November, Norway’s largest telecom operator, Telenor ASA, selected Huawei to supply its new Norwegian wireless network, replacing gear supplied by Ericsson and Nokia Siemens.

Source : Konaxis