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December 31, 2016

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Huawei expects revenue rise to slow

HUAWEI Technologies Co, one of the world’s largest telecom equipment makers, said yesterday that it expects 2016 revenue growth to slow slightly to 32 percent and forecast greater uncertainties next year.

The Shenzhen-based company, which competes with Sweden’s Ericsson for the top spot in the global market for telecoms equipment, sees 2016 revenue hitting 520 billion yuan (US$75 billion), said Eric Xu, Huawei’s rotating chief executive.

The expected growth rate for this year represents a slowdown from the 35 percent rate posted in 2015, and the company said it would face greater global political and economic uncertainties in 2017.

“The year 2016 has seen a flock of black swans — both political and economic — sweep across the globe. Nevertheless, we have remained focused on our strategy and have patiently applied ourselves to making breakthroughs and creating real value for our customers,” Xu said in a New Year’s message to employees.

“In 2017, we will face even greater global political and economic uncertainties.”



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