Huawei on track to grow its revenues by 10% this year

Huawei on track to grow its revenues by 10% this year

Huawei is right on track to meet its target of 10% revenue growth in 2013, after reporting solid growth in the first half of the year.

In the first six months, the Chinese company generated revenue of CNY113.8 billion ($18.53 billion), representing an increase of 10.8%. It noted that “based on this robust growth and other positive business indicators”, it expects to generate a net profit margin of 7 to 8 percent in 2013.

“Our success in H1 2013 was mainly driven by the steady growth of the Carrier Network business, the expansion of the Enterprise business, and the fast growth of the Consumer business, as well as the continuous enhancement of our overall operation efficiency,” Cathy Meng, CFO, said in a statement.

While Huawei keeps growing, its rivals are struggling: Ericsson recently reported a flat revenue performance, ZTE is in the process of returning to profitability after a tough 2012, and Alcatel-Lucent recently announced a turn-around plan intended to end a prolonged period of losses by focusing on high-growth areas…

[Via: MobileWorldLive]

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