Huawei sales soar 10.8% in first half
By Richard Fu |
July 25, 2013, Thursday
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Print Edition
Print Edition
HUAWEI Technologies Co, China's largest telecommunications equipment maker, said it is on track to meet a 10 percent revenue growth target in 2013 after posting a pickup in half-year sales.
The unlisted company said yesterday sales rose 10.8 percent to 113.8 billion yuan (US$18.5 billion) in the first six months of 2013, as opposed to a 5 percent gain in the same period a year ago.
While facing setbacks in countries from the United States to Australia over cyber security concerns, Huawei is benefiting from the huge spending by Chinese telecom carriers on the speedier fourth-generation networks.
Shenzhen-based Huawei denies it poses any security threat, as cited by some Western governments.
The company, diversifying from a traditional network equipment supplier, is also benefiting from China's fast-growing smartphone market, joining a number of homegrown firms to grab market share from Apple Inc and Samsung Electronics Co.
"Our success in the first half of 2013 was mainly driven by the steady growth of the carrier network business, the expansion of the enterprise business, and the fast growth of the consumer business," Chief Financial Officer Cathy Meng said in a statement, adding Huawei is confident of achieving its goal of increasing revenue by 10 percent in 2013.
The company didn't give a profit number but said it expects to generate a net profit margin of 7-8 percent in 2013, compared with around 7 percent in 2012.
Huawei's main domestic rival, ZTE Corp, earlier this week reported an 11.6 percent decline in first-half sales. But its net profit rose 23.5 percent thanks to cost-cutting and assets sales.
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