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Huawei revenues to surpass $100 billion

Huawei Rotating Chairman Ken Hu
Huawei Rotating Chairman Ken Hu

JOHANNESBURG – HUAWEI, the second-biggest smartphone maker, has projected its revenue for 2018 to exceed US$100 billion (over R1,4 trillion).

Ken Hu, Huawei Rotating Chairman, disclosed the forecast at the Chinese’s company’s new campus in Dongguan.

Hu delivered strong messages of confidence in Huawei’s business growth and prospects, citing the trust of hundreds of network operators, nearly half of the world’s Fortune 500 companies and hundreds of millions of consumers.

Huawei reported revenues of $92,5 billion for 2017.

Meanwhile, Hu disclosed Huawei has secured 25 commercial contracts, ranking first among all ICT equipment providers, having already shipped more than 10 000 base stations to markets around the world.

He said almost all network customers had indicated they wanted Huawei, which was currently rated the market leader with the leading equipment.

It is expected to retain the position for at least the next 12 to 18 months.

Hu said some security concerns based on the technology for 5G were
legitimate but could be clarified or mitigated through collaboration with operators and governments.

In conclusion, Hu described the company’s recent achievements as “exciting.”

He recalled his almost 30-year history with Huawei during which its
people, culture and management had grown.

“This is journey of transformation that has helped us grow up from an unknown vendor to the 5G leader,” Hu concluded.

– CAJ News



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