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FINANCIAL NEWS
China’s Huawei expects 10% rise in ME 2012 revenue
06 Dec 2012
(MENAFN) Huawei deputy chairman, Ken Hu, stated that in 2012, the company’s revenue from its operations in the Middle East are expected to grow by 10 percent, reported Arabian Business.
Hu said that the Chinese telecommunications giant’s revenue in the region stands at USD3 billion at the current time, with customers including UAE’s Etisalat, for which it has built LTE broadband network, and Saudi STC.
He added that the Shenzhen-based firm, whose global revenues stand at USD32 billion currently, forecasts its device business to add around 30 percent to the segment’s global revenue of almost USD9 billion.
He added that the firm derives nearly 70 percent of sales from outside China, and is focusing on emerging markets more and more, as the economic crisis in Europe and the US lowers demand.
It is worth noting that Huawei, which specializes in networking hardware, mobile devices and IT services, expects to meet its 2012 revenue growth target of between 15 percent and 20 percent.
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