Huawei expects net profit to increase 30% in 2012

Huawei, China's largest maker of telecom equipment, expects a net profit of $2.4 billion in 2012, up about 30 percent from a year earlier, Guo Ping, acting chief executive of the company, said in a New Year message.

He added that the company's income in 2012 will exceed $35 billion, up more than 10 percent year-on-year. In 2011, the company's income rose 11.7 percent year-on-year to $32 billion.

Guo attributed the profit increase to the sales surge of high-end cell phones in developed markets such as Japan.

Huawei is not listed but is publishing more financial data to increase transparency.