BEIJING: Chinese telecom colossus Huawei, which has substantial investment in India, has disclosed its financial performance – part of a strategy to boost transparency and allay security apprehensions of the countries the company operate in.
Cathy Meng, Huwaei’s CFO, told reporters in Beijing Jan 21 that the annual profit surged 33 per cent to $2.4 billion. (15.4 billion yuan). This is the first time Huwaei has gone public with its rising fortunes, a calibrated plan to what its CEOP described as honoring “our commitment to transparency.”
The company has been suspected by some Western governments of spying and links with the all-powerful Communist Party of China.
Last year, in a bid to allay security concerns, Chinese vendors Huawei and ZTE said they were willing to offer the Indian government unrestricted access to the software source codes of all their products.
The Indian government is taking a close look at a report by the US Congress Panel that shows that the two technology majors from China have close links with that country’s government and military and must be barred from mergers and acquisitions in the US.
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