Chinese telecom equipment maker Huawei Technologies said its contract sales increased 46 percent year-on-year in 2008.
Sun Yafang, chairwoman of Huawei Technologies, said in an email to employees dated Jan 2 that the company's contract sales amounted to $23.3 billion in 2008, with 75 percent coming from overseas markets.
"Last year, we maintained a solid and healthy growth," Sun said in the email. She said Huawei's contract sales are expected to increase 28.8 percent to $30 billion in 2009.
The worldwide economic slowdown has prompted many telecom operators to trim spending growth, resulting in a fall in demand of new equipment from suppliers, including Ericsson and Nokia Siemens Networks.
The more price competitive Chinese telecom equipment makers such as Huawei and ZTE Corp are in a better position than their foreign counterparts to compete in the international marketplace.