Huawei eyes $100b revenue in 2018

Huawei Technologies Co Ltd expects to post $102.2 billion in revenue in 2018, up about 9 percent year-on-year, as the Chinese tech giant steps up effort to push its smartphone and enterprise business amid a slowing telecom equipment industry.

If achieved, it would be the first time that the Shenzhen-based company’s revenue would top $100 billion. Still, the growth would be relatively slower compared with its performance in 2017. The target was announced at a company conference on Thursday.

Last year, its revenue grew about 15 percent to about 600 billion yuan. ($93.7 billion)

Specifically, Huawei’s consumer business group, which includes smartphones, aims to post about $44 billion in revenue in 2018, representing about 20 percent year-on-year growth.

Huawei is already the world’s third-largest smartphone vendor. Last year, its consumer business group recorded 236 billion yuan in revenue, up about 30 percent compared with the performance in 2016.