Huawei profit soars

Bangkok - Chinese telecom giant Huawei increased its profits by 32.7% in 2014, the company announced on Tuesday.

Net profits reached 27.9 billion yuan ($4.5bn) in 2014, as the world's second-largest telecommunications equipment maker benefited from robust smartphone sales and upgrades to faster mobile data networks.

Revenues of the Shenzhen-based company rose 20.6% year-on-year, to 288.2 billion yuan.

"With heavy investment in innovations in areas such as cloud computing, big data, 5G, SDN and NFV, we believe we are well positioned to capture the tremendous business opportunities in this digital transformation era," Ken Hu, deputy chair and rotating CEO, said in the earnings release.