Reuters: Technology News: China's Huawei sees 10 percent annual revenue growth over next five years

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China's Huawei sees 10 percent annual revenue growth over next five years Sep 11th 2013, 13:21 Tweet Share this Email Print A man looks at a Huawei mobile phone as he shops at an electronic market in Shanghai January 22, 2013. Credit: Reuters/Carlos Barria STOCKHOLM | Wed Sep 11, 2013 9:21am EDT STOCKHOLM (Reuters) - Chinese telecom equipment firm Huawei said on Wednesday it expected to grow its revenues by 10 percent annually over the next five years from the $35 billion it achieved in 2012. "This growth will come mainly from consumer devices and enterprise," Huawei's Vice President of Western Europe sales, Gaston Khoury said at a media presentation in Stockholm. Huawei, whose arch rival in mobile networks is Sweden's Ericsson, said this diversification would mean the share of carrier networks in its overall sales would fall from around 73 percent of the total in 2012 to around 60 percent in 2017. The company said in July it had revenues of 113.8 billion yuan ($18.59 billion)in the first half of the year and that it was on track to increase revenues by 10 percent in the full year 2013. (Reporting by Simon Johnson) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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