Huawei wants sales to touch US$100b
Source: Bloomberg News |
April 28, 2011, Thursday
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Print Edition
Print Edition
HUAWEI Technologies Co, China's largest phone-network equipment maker, aims to more than triple annual sales to about US$100 billion in the next five to 10 years as it expands into cloud computing and small-business networks.
Huawei forecasts sales this year will climb to 199 billion yuan (US$31 billion) from 185.2 billion yuan last year, Richard Yu, chief marketing officer, said in Shanghai yesterday.
"Traditional industry boundaries are blurring and the telecommunications industry will be redefined in the next 10 years," Yu said at the meeting with analysts and media. "Low-cost, huge-capability networks will be the industry requirement."
Chief Executive Officer Ren Zhengfei, who founded Huawei in 1987, built it into the world's second-largest maker of equipment for mobile-phone networks, behind Ericsson AB. After starting off in China's rural communications market and then expanding that strategy through Asia and Africa, Ren is now looking to boost sales in Europe and the United States to further close the gap with its Swedish rival.
Huawei, based in Shenzhen, held about 15.7 percent of the US$78.6 billion global market for carrier network infrastructure last year, second to Ericsson's 19.6 percent share, according to estimates from research firm Gartner Inc on April 11.
Huawei will increasingly look to expand beyond the traditional phone-network market because of limited growth prospects in that business, Yu said.
This year's sales growth will be less than half the 24 percent increase in revenue last year as the company faces challenges including a yuan appreciation, a shortage of labor and accelerating inflation, Vice President Fan Chen said at the same event.
Huawei forecasts sales this year will climb to 199 billion yuan (US$31 billion) from 185.2 billion yuan last year, Richard Yu, chief marketing officer, said in Shanghai yesterday.
"Traditional industry boundaries are blurring and the telecommunications industry will be redefined in the next 10 years," Yu said at the meeting with analysts and media. "Low-cost, huge-capability networks will be the industry requirement."
Chief Executive Officer Ren Zhengfei, who founded Huawei in 1987, built it into the world's second-largest maker of equipment for mobile-phone networks, behind Ericsson AB. After starting off in China's rural communications market and then expanding that strategy through Asia and Africa, Ren is now looking to boost sales in Europe and the United States to further close the gap with its Swedish rival.
Huawei, based in Shenzhen, held about 15.7 percent of the US$78.6 billion global market for carrier network infrastructure last year, second to Ericsson's 19.6 percent share, according to estimates from research firm Gartner Inc on April 11.
Huawei will increasingly look to expand beyond the traditional phone-network market because of limited growth prospects in that business, Yu said.
This year's sales growth will be less than half the 24 percent increase in revenue last year as the company faces challenges including a yuan appreciation, a shortage of labor and accelerating inflation, Vice President Fan Chen said at the same event.
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