Huawei posts massive revenue hike

Written by on July 20, 2015 in News with 0 Comments

China's Huawei Technologies in ParisHONG KONG (Reuters) – Huawei Technologies Co Ltd, one of the world’s largest telecom equipment makers, on Monday posted a 30 percent increase in first-half revenue to 175.9 billion yuan ($28.3 billion) and said it would achieve “effective growth” in 2015.

The Shenzhen-based company, which competes with Sweden’s Ericsson for the top spot in the global market for communications towers and other infrastructure, posted an operating margin of 18 percent in the first six months of 2015, compared with 18.3 percent in the previous half-year. The private company did not elaborate in its brief statement.

“Huawei achieved stable and healthy growth in all of its three business segments,” Huawei CFO Meng Wanzhou said in the statement, referring to the company’s telecom, consumer device and enterprise business segments.

“We are confident that we will maintain effective growth and steady and healthy development in all business segments in 2015.”

Huawei earlier this year set a target of 20 percent growth in global revenue for 2015.

Last year, Huawei reported a 19 percent rise in its first-half revenue. The company reported an operating margin of 11.9 percent in 2014.

Huawei had targeted overall revenue of $70 billion by 2018, which translates as roughly 10 percent annual growth. It posted 21 percent revenue growth last year.

(Reporting by Yimou Lee; Editing by Stephen Coates)

Tags: ,

About the Author

About the Author: Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. .

Subscribe

If you enjoyed this article, subscribe now to receive more just like it.

Subscribe via RSS Feed

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Top