In the first half of this year, Huawei reported an 11 percent jump in year-over-year revenue, and the company said it is "confident" it can reach total revenue of around $31.1 billion for the full year. The figure would put the Chinese infrastructure and handset vendor closer to matching industry leader Ericsson (NASDAQ:ERIC).
Huawei reported revenue of $15 billion through the first six months of the year. The company said its revenue growth target for the year is 10 percent, compared with 24 percent growth in 2010.
Huawei said its growth this year will be due in part to higher-than-expected sales of consumer devices such as smartphones and tablets. Last year, 83 percent of the company's total revenue came from infrastructure and services, with much of the remaining coming from devices.
Huawei's target of $31.1 billion in 2011 would put it closer to Ericsson, which is expected to hit sales of $35 billion in 2011, according to a consensus forecast by Thomson Reuters I/B/E/S. According to research from Gartner as reported by the Wall Street Journal, Ericsson commanded 20 percent of the global network infrastructure market in 2010 and Huawei had 16 percent.
Despite its growth, Huawei hasn't had much luck in selling network equipment to operators in Western Europe and the United States--however, it has had successes on the handset side. Further, Huawei is planning a major smartphone push later this year based around its recently announced Vision Android phone and Cloud+ platform, which will allow users to store music, video, pictures, e-mail and other applications in the cloud. Huawei expects to sell 1 million Vision phones this year.
For more:
- see this release
- see this Bloomberg article
- see this WSJ article (sub. req.)
- see this Reuters article
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