Huawei’s revenue set to rise 10% annually over 5 years
Print Edition
Huawei Technologies expects revenue to grow 10 percent annually over the next five years as it taps the booming consumer, enterprise and software business as well as reap the benefits of its huge investment in research and development.
Its revenue in 2013 may hit 238-240 billion yuan (US$39.4-39.7 billion), a year-on-year growth of 8-9 percent, the Shenzhen-based company said yesterday.
Profit may reach 28.6-29.4 billion yuan last year, up 40 percent from the previous year, Chief Financial Officer Cathy Meng said in Beijing.
All the financial figures were unaudited.
Meng also predicted a 10 percent annual rise in Huawei’s revenue over the next five years.
The country’s No. 1 telecommunication equipment maker invested 33 billion yuan in research and development in 2013, up 9.6 percent from a year earlier.
It plans to invest US$600 million on 5G technology by 2016, according to Meng.
Huawei said in October that it planned to invest US$2 billion in Britain within five years.
In the global telecom equipment market, Huawei ranks second after Ericsson.
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