Huawei reports strong sales push 2017 profit up 28.1 percent

Huawei Technology Ltd., the Chinese smartphone and telecom equipment maker, says its 2017 profit rose 28.1 percent, boosted by strong sales for its enterprise and consumer units.

Huawei said Friday it earned 47.5 billion yuan ($7.6 billion). Total revenue rose 15.7 percent to 603.6 billion yuan ($96.2 billion).

Huawei, headquartered in the southern Chinese city of Shenzhen, is the third-largest global seller of smartphones behind Samsung and Apple. It competes with Sweden's LM Ericsson for the status of biggest maker of network equipment used by phone and internet companies.

Huawei is owned by its employees, with no publicly traded shares, but has reported financial results in recent years to try to allay security concerns in the United States and Europe.