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Huawei's 2015 revenue jumps 37%, strongest in 7 years

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Huawei Technologies Co Ltd on Friday posted its strongest revenue growth since 2008, as China's adoption of fourth-generation (4G) mobile technology and strong smartphone sales worldwide boosted sales for one of the world's largest telecom equipment makers.

[HONG KONG] Huawei Technologies Co Ltd on Friday posted its strongest revenue growth since 2008, as China's adoption of fourth-generation (4G) mobile technology and strong smartphone sales worldwide boosted sales for one of the world's largest telecom equipment makers.

Global revenue rose 37 per cent to 395 billion yuan (S$82.5 billion) in 2015, matching company guidance of 390 billion yuan, the Shenzhen-based company wrote in a statement on Friday.

Net profit for 2015 rose 32 per cent to 36.9 billion yuan, from 27.9 billion yuan a year earlier.

Huawei, which competes with Sweden's Ericsson for the top spot globally for communications towers and other infrastructure, had targeted overall revenue of US$70 billion by 2018, which translates as roughly 10 per cent annual growth.

REUTERS

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