Huawei expects 10% revenue growth in 2014

By Zhu Shenshen | January 15, 2014, Wednesday |

Online Edition

HUAWEI Technologies expects revenue to grow about 10 percent in 2014, thanks to booming consumer, enterprise and software businesses and large investments in research and development, the country’s No. 1 telecommunications equipment maker said today.

For 2013, the Shenzhen-based company expects revenue to hit

238 to 240 billion yuan (US$39 billion to US$39.3 billion), achieving growth of some 8 percent year-on-year, Chief Financial Officer Cathy Meng said today.

Huawei’s profit is expected to reach 28.6 to 29.4 billion yuan.

Besides offering telecommunications equipment and software for enterprises and mobile carriers, Huawei also provides consumer products from mobile phone and data cards to newly added home entertainment products.

In the global telecommunications equipment market, it lags behind Ericsson, ranking No. 2, and is ahead of Nokia-Siemens and Alcatel-Lucent.

Huawei’s research investment in 2013 was 33 billion yuan. It plans to invest US$600 million on 5G technology by 2016, according to Meng.

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Huawei expects 10% revenue growth in 2014

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