China’s Huawei expects 2015 sales revenue to jump 35 percent to $60 billion

31 Dec, 2015 11:18 am

HONG KONG – Huawei Technologies Co Ltd, one of the world’s largest telecom equipment makers, said on Thursday it expects to post a 35 percent jump in sales revenue for 2015, thanks to a strong performance across its business platforms.

The Shenzhen-based company, which competes with Sweden’s Ericsson for the top spot in the global market for communications towers and other infrastructure, expects revenues to reach about 390 billion yuan ($60 billion) for the year, acting Chief Executive Guo Ping said.

The company posted an operating margin of 18 percent in the first six months of 2015, compared with 18.3 percent in the previous half-year.

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

It had targeted overall revenue of $70 billion by 2018. It posted 21 percent revenue growth last year.

Huawei introduced a rotating CEO system in 2011, where three top executives take turns as acting CEO for six-month stints. Founder Ren Zhengfei remains chief executive. -Reuters

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