China -based technology giant Huawei this week said its global sales revenue is estimated to reach between $39.22bn and $39.44bn in 2013, an increase of approximately 11.6%, year on year. Huawei's chief financial officer Cathy Meng announced the company's unaudited financial results for 2013, also mentioning that Huawei's operating profit for 2013 is expected to be in the range $4.7bn to $4.83bn , with cash flow from operating activities and the company's asset-to-liability ratio remaining stable. Huawei operates in more than 140 countries worldwide, and has seen growth in all three of its business groups: carrier network, enterprise and consumer. More than 75% of the carrier network group's revenue in 2013 came from the world's top 50 telecom operators, while the proportion of revenue from services and software in the carrier business increased to 37% in 2013 from 34% in 2012. Meng attributed the growth to heightened R&D investment. "Every year for over the past 10 years, Huawei has invested more than 10% of sales revenue in innovation," she said. "In 2013 alone, the company's investment in R&D reached $4.8bn , accounting for about 14% of our sales revenue."
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Will Missing Malaysian Jet Prompt Aviation System Change?
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Natural Gas Discovery Could Lead to Cleaner Fuels