Huawei, one of the world’s leading telecom equipment manufacturers, revealed that it believes 2016 income growth to deliberate slightly to 32%.
Eric Xu, Huawei’s rotating chief executive is of the view that the Shenzhen-based company that contests with Sweden’s Ericsson for the top place in the international market will register profits of around 520 billion Yuan ($74.8 billion).
Huawei Hints Slower Revenue Growth for 2016
The projected growth rate for this year symbolizes a strike from the 35 percent rate displayed in 2015. The company further stated that it would face larger global political and economic uncertainties in 2017.
“The year 2016 has seen a flock of black swans – both political and economic – sweep across the globe. Nevertheless, we have remained focused on our strategy and have patiently applied ourselves to making breakthroughs and creating real value for our customers.”
“In 2017, we will face even greater global political and economic uncertainties.”
Xu made the comments in a New Year’s message to workers.
In early 2014 Huawei had targeted total revenue of $70 billion by 2018. The company became the first Chinese handset seller to ship over 100 million smartphones in a year in 2015 when a 44 percent jump in its shipments challenged a market slowdown. That facilitated the company’s net revenue increase 32% to 36.9 billion Yuan preceding year, from 27.9 billion Yuan a year before.