Huawei expects $2 billion this year from 4G
Chinese vendor Huawei expects to rake in over $2 billion in revenue this year from the sale of 4G infrastructure equipment, the company said today.
Peter Zhou, EVP Huawei’s LTE business unit, told reporters that there are now 100 million 4G users across the globe. He expects that number to grow to 1 billion by 2016.
As a result of global carriers across China and Europe expanding and upgrading their networks, senior executives at the company foresee a notable increase in income.
Huawei’s 4G LTE revenues were relatively small last year, Reuters reports, but grew to $1 billion in H1 of 2013. Bob Cai, VP for wireless marketing at Huawei, said that the company was on track to reach $2 billion by the year end.
Spending on 4G infrastructure is expected to nearly triple in 2013, from £8.7 billion in 2012 to $24.4 billion, according to regional research firms.