(MENAFN) Chinese Huawei said it posted a net profit surge of more than 32 percent in 2014, hitting USD4.5 billion, driven by demand from emerging markets, The Peninsula Qatar reported.
In the annual report, the Chinese telecommunications equipment giant, which is not listed on any stock exchange, said its revenue increased by 21 percent to USD46.99 billion.
Overseas markets contributed by 62 percent of revenue with the Europe, Middle East and Africa region the largest contributors outside China. China provided about 38 percent of turnover.
"Profit increase stems from streamlined management and improvements in overall efficiency," the telecommunication giant's deputy chairman said in a statement.
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