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Huawei's H1 sales gain 11%
Source: Agencies |
August 16, 2011, Tuesday
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Print Edition
Print Edition
CHINA'S Huawei Technologies Co, the world's No. 2 network equipment maker, posted an 11 percent rise in its first-half sales as it closes in on market leader Ericsson.
Huawei faces a weak global economy due to United States and European debt woes that could hamper telecom spending worldwide.
However, it aims to rely more on sales of its MediaPad tablet PCs and smartphones to spur growth, pitting it against global names such as Apple and Samsung Electronics.
The Shenzhen-based company said it was on track to achieve annual sales of 199 billion yuan (US$31 billion) for this year, while Ericsson's sales may hit 227.6 billion Swedish krona (US$35 billion) this year, according to a consensus forecast by Thomson Reuters.
Analysts said even though there were global uncertainties, a pickup in spending by Chinese telecom carriers such as China Mobile, China Unicom and China Telecom, could help Huawei in the second half.
"Some of the major telecom projects in China that were planned for this year were delayed to the second half," said Kelvin Ho, an analyst at Yuanta Securities in Shanghai.
Huawei faces a weak global economy due to United States and European debt woes that could hamper telecom spending worldwide.
However, it aims to rely more on sales of its MediaPad tablet PCs and smartphones to spur growth, pitting it against global names such as Apple and Samsung Electronics.
The Shenzhen-based company said it was on track to achieve annual sales of 199 billion yuan (US$31 billion) for this year, while Ericsson's sales may hit 227.6 billion Swedish krona (US$35 billion) this year, according to a consensus forecast by Thomson Reuters.
Analysts said even though there were global uncertainties, a pickup in spending by Chinese telecom carriers such as China Mobile, China Unicom and China Telecom, could help Huawei in the second half.
"Some of the major telecom projects in China that were planned for this year were delayed to the second half," said Kelvin Ho, an analyst at Yuanta Securities in Shanghai.
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