Huawei's annual earnings report is out and it's a mixed bag, since while turnover increased by 11.7 percent to 203.9 RMB ($32.3 billion), profits plummeted 53 percent to 11.6 billion RMB ($1.8 billion). Revenue from overseas sales (138.4 billion RMB) equated for over half the company's total income and it boasted of having sold 150 million consumer devices, including 20 million smartphones in the year.
Engadget, Huawei 2011 financials: 20 million smartphones sold yet profit down 53 percent
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