Wall Street Journal notes that Huawei’s net profit rose 20 percent in 2008 despite significant losses due to currency fluctuations, even as rival telecoms equipment makers saw profits shrink because of the weakening global economy. Huawei said net profit for the year was US$1.15 billion, up from US$956.9 million a year earlier. Revenue grew 43 percent last year to US$18.33 billion, slightly higher than the unaudited revenue figure the company initially reported in January.