Latest News:  


Huawei projects 10% average growth over 5 years

By Shen Jingting  (China Daily)

14:11, April 09, 2013

Its 2012 sales increase 8 percent to $35.5b, while profits jump 32 percent

Huawei Technologies Co, the Chinese telecom giant, has forecast revenue growth will average 10 percent annually over the next five years.

Releasing its annual report for 2012 on Monday, it said sales rose 8 percent to 220 billion yuan ($35.5 billion) last year.

Huawei also posted a 32 percent jump in net profit to 15.38 billion yuan during the period.

Guo Ping, acting chief executive officer, said it met its business performance expectations through improved operational efficiency.

He expressed confidence in future growth based on the market's ongoing demand for ubiquitous connections.

"Information and communications technology will continue to grow, with new opportunities coming from cloud computing big data, and feature phones being replaced by smartphones at a faster rate," Guo said in a statement.

Huawei's founder Ren Zhengfei attributed its performance during the past 25 years to "gaining might from a small hole", explaining that water under high pressure can be spurted from a small hole to cut steel plate.

Huawei and its 150,000 employees, he said, pursue the duel target of focusing on customers and lifting competitiveness.

The global telecom industry was sluggish last year because many telecom operators cut their spending.

Huawei's big Chinese rival ZTE Corp booked a net loss of 2.84 billion yuan in 2012, down from a net profit of 2.1 billion yuan the previous year.

Ericsson AB, the world's largest vendor of wireless networks, said its net profit dropped 53 percent to $930 million in 2012.

【1】 【2】

We Recommend:

Photo Story: Bittersweet life of auto model

Top 10 richest people in Beijing 2013

34th Bangkok Int'l Motor Show to kick off

Beijing’s second-oldest McDonald outlet closed

Top 10 world's youngest billionaires 2013

China's solar giant declares bankruptcy

Email|Print|Comments(Editor:WangXin、Chen Lidan)

Leave your comment0 comments

  1. Name


Selections for you

  1. Chinese Marines in military skill training

  2. French, Cote d'Ivoire soldiers attend drill

  3. Flowers laid outside Thatcher's home

  4. The job of building heavenly homeland

  5. Icicles on plum blossoms in Hami

  6. Garden Expo might be delayed after fire

  7. National Chinese Painting Academic Exhibition

  8. The best smiles may be all wet

  9. Stunning models at Bangkok Auto Show

  10. China's inflation drops from 10-month high

Most Popular


  1. Errors in urbanization must be avoided
  2. What kind of public diplomacy does China need?
  3. Today's youths will prove their mettle
  4. Chinese spend less on hotels, still flash the cash
  5. Soros upbeat on China's economic transformation
  6. Chinese innovations to benefit the world: Bill Gates
  7. Reflecting on rules that allow bad apples
  8. Cold food honors loyal man with a warm heart
  9. Safety concerns over state-owned coal mines
  10. New age of gender blending in China

What’s happening in China

Stand in face of bulldozer
With water and electricity cut, lonely 'Nail House' struggling to stay

  1. Beijing plans to burn waste from landfills
  2. Interior pollution problem in mass-market cars
  3. Renewed crackdown on careless crossers
  4. Beijing to install BDS instead of GPS
  5. Security guard kills driver of armored car