Chinese based technology giant Huawei have published strong 2012 results, forecasting a total net profit of $2.4 billion.

Despite the publishing of strong results, the Chinese company has faced challenges in foreign markets.

Guo Ping, acting CEO of the Chinese firm, acknowledged the difficulties of 2012, saying: “We have weathered another turbulent year: the downward spiral in the global economy, an investigation into cyber security allegations by a particular committee of the US Congress, political upheavals in the Middle East and Northern Africa, as well as natural disasters including floods and earthquakes”.

Huawei are looking to increase expansion in new markets in 2013, with a increasing focus on mobile broadband, network solutions and mobile devices.