 Huawei sales rise 46%
By Wang Xing and Wang Xu (China Daily)
Updated: 2009-01-08 07:48
Telecom equipment maker Huawei Technologies said its contract sales increased 46 percent year-on-year in 2008. Sun Yafang, chairwoman of Huawei Technologies, said in an email to employees dated Jan 2 that the company's contract sales amounted to $23.3 billion in 2008, with 75 percent coming from overseas markets. "Last year, we maintained a solid and healthy growth," Sun said. She said Huawei's sales are expected to increase 28.8 percent to $30 billion in 2009. The global economic slowdown has prompted many telecom operators to trim spending, resulting in a fall in demand of new equipment. The more price competitive Chinese telecom equipment makers such as Huawei and ZTE Corp are in a better position than their foreign counterparts to compete in the marketplace. Huawei has seen an average annual growth rate of over 40 percent since 2005. It has started its push in developing markets in Africa and Asia, but in recent years turned to markets in North America and Europe.
(China Daily 01/08/2009 page14) |
