Huawei sets growth targets

Huawei sets growth targets

Vendor Huawei forecasts it will record an annual 10% increase in revenue over the next five years after posting a 32% net profit increase for 2012, the company has said in its 2012 annual report.

The Chinese vendor recorded a $2.47 billion net profit from 2012 and expects this figure to increase further because of the increasing demand for ICT and cloud services in the market.

"Today, telecom networks are yet to meet the requirements for ubiquitous connections - zero wait time, ultra broadband, and smart applications,” said Guo Ping, Huawei's acting CEO.

“Huawei will continue to focus on its pipe strategy, integrate and develop businesses around the information pipe, and create value for customers, while achieving sustainable and effective growth," he added.

Huawei, which at present spends 13.7% of its total sales revenue on R&D across its 16 dedicated centres and 28 joint innovation centres, posted an increase on year on year sales throughout its three core businesses.

The vendor’s enterprise business arm recorded the biggest increase of $1.85 billion, representing a 25.8% rise; its carrier network achieved a $25.8 billion with a 6.7% year on year growth; and its consumer business posted $7.8 billion, an 8.4% rise.

The company claimed “rapid growth in Europe, the Middle East and Africa” were big reasons for the increase.

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