Its Aussie operation saw 100% revenue growth in its Carrier Business, according to its latest corporate report.
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The Australian Federal government banned Huawei, one of the world's biggest ICT firms, from working on the NBN last year after fears about spying by Chinese government agencies and cyber security. The US government also has similar concerns.
But, still, the network giant stepped up its investments both here and in Europe. Its founder has links with the Chinese army, but insists its systems are above board.
Huawei's 2012 global net profit was $2.4bn on revenues of $ 35.3bn last year - its highest ever earnings as its global invasion continues.
"Huawei's financial performance in 2012 is a reflection of the company's growth in the Australian market - we're now working with all major Australian operators and employ over 700 staff in Australia, 85% of which are locals," said Huawei Australia CFO Luke Austin.
The Chinese giant was so eager for work in OZ that it established a local Board of Directors - its first localised Board anywhere in the world.
Global CEO Mr Ren Zhengfei recently confirmed Aussie profits would be reinvested in the local operation.
'Watch this space'
When asked about future plans by CN, the company spokesperson alluded to "more exciting products in the pipeline" in 2013, hinting at the Ascend P2 - the "fastest smartphone in the world"
debuted at CES, and 'D2' which has a potent quad core processor.