Chinese equipment maker Huawei posted double-digit revenue and profit growth in FY 2010. Sales revenues were CNY 185.2 billion, up 24.2 percent from CNY 149.1 billion a year earlier. Revenue from China totalled CNY 64.8 billion, up 10 percent from 2009, and overseas revenue totalled CNY 120.4 billion, up 34 percent year-on-year. The telecommunications networks business generated revenues of CNY 122.9 billion, up 23 percent, the global services business posted revenues of CNY 31.5 billion, up 29 percent, and the devices business generated revenues of CNY 30.7 billion, up 25 percent year-on-year. By the end of 2010, Huawei had deployed over 80 SingleRAN networks for operators, among which 28 LTE networks were commercially launched or ready to be launched. The company also shipped 120 million devices around the world. Huawei posted a net profit of CNY 23.8 billion, up 30 percent from CNY 18.3 billion a year earlier. The company also announced plans for a "market-oriented corporate governance structure". Under the new structure, each of Huawei's main business units will be overseen by its own executive management teams that are in turn managed by the company's CEO alongside an active board of directors. The current board was elected in at the beginning of 2011, and their biographies are included in Huawei's annual report for the first time in 2010.
