Domestic sales plunge at Huawei

China's biggest supplier of telecoms equipment, Huawei Technologies, posted a 12.4 per cent fall in sales last year to US$2.7bn as its major clients cut back on spending. Domestic sales plunged nearly 22 per cent, but foreign sales surged from US$328m in 2001 to US$552m. It has secured major contracts in Russia, Thailand, Mexico and India.