Webwire: Huawei aims to make $100b; Baidu income beats expectations
Huawei aims to more than triple its annual revenue to $100 billion (€67.3 billion) within the next five to ten years as it expands into the enterprise and devices sectors. The firm predicts revenues will grow 13.8 billion yuan (€1.4 billion) this year to $199 billion yuan.
Chinese search engine Baidu grew its first quarter profit 122.8% to 1.07 billion yuan (€110 million), in a result which surpassed analyst’s estimates.
US operator CenturyLink will acquire internet infrastructure company Savvis for $2.5 billion (€1.6 billion), to boost its hosting and cloud services capabilities.
Shares in chipmaker Broadcom fell 12.3% on Wednesday, after the company disappointed analysts with its latest profit forecast.
Apple and Google have been asked to testify at a US senate hearing into location tracking by smartphones. Apple denies tracking the movements of iPhone customers, claiming information stored for up to a year is the result of a soon-to-be-fixed software bug.
Free speech activists have slammed Indian regulations issued earlier this month, but only now coming to light, allowing for content to be removed if it is deemed disparaging, harassing, blasphemous, hateful, and threatens national unity or international diplomacy.
Verizon has been grappling with technical faults on its LTE network which have led to reports of outages across the US.