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Lenovo Group Ltd.

Huawei 2015 profit jumps 32 percent on smartphone demand

Huawei Technologies Ltd., one of the biggest makers of telecoms equipment, said Friday its 2015 profit jumped 32 percent on strong sales of smartphones and switching gear as carriers upgraded wireless networks to 4G.

Huawei said it earned 36.9 billion yuan ($5.7 billion) on global revenue of 395 billion yuan ($60.8 billion).

Huawei, the first Chinese company to break into the top ranks of global technology providers, is privately held but releases annual results in an attempt to ease concern in the United States and some other countries that it might be a security risk.

The company, based in the southern Chinese city of Shenzhen, said sales of smartphones and other...

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