News Column

Huawei revenues soar by a fifth as it spends on mobile internet

July 22, 2014

OLIVER SMITH



HUAWEI, the world's secondlargest telecom equipment maker, said yesterday it is set to achieve sustainable growth in 2014 after reporting a 19 per cent jump in revenue to 135.8bn yuan (12.81bn) during the first six months of the year.


The private Chinese firm said its operating margin will be 18.3 per cent in the first half of 2014.


"Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband. Our efforts in the enterprise business have begun to pay off. We have enjoyed accelerated growth in this area. We also achieved quality and sustainable growth in our consumer business thanks to the increase of brand awareness and smart devices sales worldwide," said Huawei finance chief Cathy Meng. "We are confident that in 2014 we will achieve sustainable growth, robust operations, and healthy financials."


Last year, Huawei reported a 10.8 per cent rise in its first-half revenue. This year it set a revenue target of 41bn by 2018, or annual growth of about 10 per cent a year.


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Source: City A.M. (UK)


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