Huawei said it expects to report an increase in both profit and revenue for 2012, although it noted it is set to face a number of challenges in the coming twelve months.

In a statement, Guo Ping, its acting CEO, said that the company anticipates a net profit for the twelve months of around $2.4 billion on revenue of more than $35 billion, a greater than 10 percent increase for both.

The company has previously reported lacklustre numbers for the first half of the year, reflecting weakness in the infrastructure market which has also impacted rivals such as Ericsson, Alcatel-Lucent and ZTE.

The executive’s statement was not without some caution. He observed: “There was a time when rapid growth was Huawei’s priority and strong execution was Huawei’s distinctive feature. These characteristics have contributed to our fast development, and at the same time created the lingering issue of extensive management at Huawei.”

Looking forward, he noted that as growth “becomes steady and moderate, we have to ensure reasonable profits to support our continuous strategic investment”.

The statement detailed the need to prioritise efficiency to mitigate against issues including “risks caused by historical issues which emerge because of slower business growth, operational risks arising from the deteriorating business environment, as well as business risks associated with uncertainties introduced by the pace of business investment and new business development”.

And in reference to its ongoing struggles with regulators in Europe and the US, the company said that “in 2013, we will further our efforts in legal and regulatory compliance across the world, become more open and transparent, and proactively contribute to the betterment of the global business environment”.

With regard to its operations, the company said it had deployed more than 130 LTE networks worldwide, and that its smartphone business has made “breakthroughs in scale in high-end markets such as Japan, the US, and Europe”.