August 7, 2020

Huawei press conference at place du LuxembourgChinese telecoms equipment maker Huawei Technologies expects advances in cloud computing and higher demand for smart devices to have lifted 2014 sales revenue by 15 percent to $46 billion (roughly Rs. 2,90,950 crores), CEO Ken Hu said in a new year’s message on the company’s website.

The Shenzhen-based company, for which three executives share CEO duties in six-month rotation, had said last year that it will achieve sustainable growth in 2014. It had also targeted revenue of $70 billion (roughly Rs. 4,42,750 crores) by 2018, or annual growth of about 10 percent a year.

Huawei’s smartphone shipments rose by more than 40 percent last year, according to an internal memo seen by Reuters, failing to match its own target and the performance of faster-growing rivals such as Xiaomi.