* Huawei says profit up 30 pct in 2010
* China telecom company's to see fast growth - analyst
* Huawei says board details aimed at improving company image (Adds quote, background)
By Wan Xu and Terril Yue Jones
BEIJING, April 18 (Reuters) - Huawei Technologies Co Ltd , China's top telecommunications equipment maker, reported a sharp rise in profit on Monday in an annual report that revealed new details about the privately held company.
Huawei, which competes with Ericsson
The company attributed the increase to strong overseas sales and growth in its core businesses of telecommunications networks, global services and devices.
"Huawei will likely have the fastest-growing revenue in this sector, compared with competitors," said First Capital Securities analyst Ren Wenjie.
The company was expected to continue to grow for 3-5 years and its market share likely to rise, with core products entering European and American markets, Ren said.
It is also evolving from a telecommunications equipment manufacturer to an information technology services provider, and its mobile phone business would also contribute significantly to earnings, he said.
Huawei and ZTE had a more robust growth story than their foreign competitors, said Daiwa Capital Markets analyst Joseph Ho.
"If you look at leading European players, top-line sales growth is much slower than the Chinese," Ho said. "The leading European players are growing their sales in single digits, whereas the Chinese are growing at more than 20 percent. I think that tells the story of market share gains in the global market."
BOARD DETAILS
For the first time, Huawei's annual report also supplied information about the secretive company's board of directors, providing names, photos and brief biographies.
The directors include founder Ren Zhengfei, a former member of the Chinese military's engineering corps who started the company with just 21,000 yuan ($3,200), and Chairwoman Sun Yafang, who began her career as a technician for a Chinese television manufacturer.
Other than Ren, no other board member was listed as having military experience.
The detailed annual report "was in response to market comments that the company was not transparent enough in terms of ownership," Ho said. "We are putting out more details about the board to improve the perception of the company."
Huawei has had trouble buying assets overseas, partly because of suspicions that it maintains links with China's military.
Most recently, the technology company hit regulatory obstacles when it agreed to buy the assets of 3Leaf Technologies for $2 million last year. In February, the company said it would back away from its acquisition of the U.S. Server technology company's assets after the U.S. government raised national security concerns. [ID:nN19134618] ($1 = 6.533 yuan) (Additional reporting by Don Durfee; Editing by Chris Lewis)