Huawei Technologies Co Ltd, the world’s No. 2 telecom equipment maker, said on Monday it will achieve sustainable growth in 2014 after posting a 19 percent jump in first-half revenue to 135.8 billion yuan ($21.88 billion).<\/p>\n
The Shenzhen-based company also said it expected to generate an operating margin of 18.3 percent in the first six months of 2014. The company did not elaborate in its brief statement.<\/p>\n
“Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband,” Huawei’s CFO Cathy Meng said in the statement.<\/p>\n
“Rapid growth in software and services helped maintain steady growth in our carrier network business.”<\/p>\n
Meng said Huawei achieved “sustainable growth” in its consumer business, which includes smartphone manufacturing, thanks to better brand awareness.<\/p>\n
Huawei’s sales growth in the first half, which the company said was in line with its expectations, comes after a 222 percent to 270 percent jump in first-half net profits flagged by cross-town competitor ZTE Corp last week.<\/p>\n
ZTE attributed the growth to improving margins and revenue from new contracts for China’s next-generation telecoms network.<\/p>\n
Last year, Huawei reported a 10.8 percent rise in its first-half revenue. The company reported 12.2 percent growth in its operating margin in 2013.<\/p>\n
Huawei earlier this year set a target revenue of $70 billion yuan by 2018, or annual growth of about 10 percent a year, after posting 8.6 percent growth last year.<\/p>\n
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