Chinese manufacturer Huawei is expecting growth of 10% each year until 2017, thanks to the increase in demand for its smartphone and cloud products.
The company issued its financial results this morning, with sales up 7.98% to CNY220.19bn (£23.18bn) and net profits up 32.1% to CNY15.38bn (£1.62bn). It said its consumer business, which includes the performance of its smartphones, saw its sales increase 8.4% to CNY48.38bn (£5.09bn). Smartphone shipments surged by 60% to 32 million.
The manufacturer has earmarked 2013 as the year when it moves from being a traditional white label phone maker to a fully fledged smartphone brand. Regional sales across Europe, the Middle East and Africa hit an all-time high, up 6.1% to CNY37.4bn (£3.93bn).
Guo Ping, Huawei's rotating and acting CEO, said: 'In 2012, Huawei met business performance expectations through improved operational efficiency. Today, telecom networks are yet to meet the requirements for ubiquitous connections - zero wait time, ultra broadband, and smart applications. In the future, ICT will continue to grow, with new opportunities coming from cloud computing, BYOD (Bring Your Own Device), and big data, and feature phones being replaced by smartphones at a faster rate. Huawei will continue to focus on its pipe strategy, integrate and develop businesses around the information pipe, and create value for customers, while achieving sustainable and effective growth.'
Author: Graeme Neill