CHINA'S Huawei Technologies, the world's second-largest telecommunication equipment maker, yesterday said revenue is likely to have risen last year by around eight per cent, less than its original target of 10 per cent. Huawei , which ranks behind Sweden's Ericsson in telecom equipment sales, said unaudited global revenue reached around 238bn yuan to 240bn yuan (£24.16bn) in 2013. Unaudited operating profit for 2013 was likely in the range of 28.6bn yuan to 29.4bn yuan , the company said. That compared with an audited 2012 operating profit of 19.96bn yuan - an increase of 43.3 per cent. Huawei became the world's thirdbiggest smartphone manufacturer last year, mainly due to a fast-growing Chinese market. That is helping cushion the impact of a global slowdown in network equipment spending, which caused the company to miss its revenue growth target last year.
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- FDIC Sues Big Banks Over Rate Manipulation
- Vybz Kartel Convicted of Murder
- FDIC Accuses Big Banks of Fraud, Conspiracy
- Stocks Close Lower Ahead of Crimea Vote
- U.S. Consumer Sentiment Falls in Early March
- Ulta Shares Look Good on Strong Q4
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Jittery Investors Dumping Russian Stocks
- SoCalGas Reaches Record Spend on Diversity Suppliers