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Huawei Expects Around $5.5b Profit For ’14

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Huawei expects to report a roughly 17% increase in net profit for 2014, significantly below the company’s growth rates for the previous year.

The company is predicting net profit of between 33.9 billion yuan ($5.47 billion) and 34.3 billion yuan, Associated Press reported.

While the growth would be a decline from the 40.5% profit growth for 2013, CFO Cathy Meng has stated that the company is focusing on revenue growth and investing in new business areas.

Revenue is expected to grow 20% to between 287 billion and 289 billion yuan, which compares to an 8.5% increase in 2013. Consumer group sales were up 32% thanks to strong smartphone sales, while carrier network sales were up 15%.

R&D sales meanwhile rose 32% from the prior year due to Huawei’s investments in growth areas. Click here to read the full post at Telecomasia.net

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Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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