Huawei CBG sector offers rich prospects

Firm likely to be largest smartphone vendor in the world by end of this year

Huawei Technologies Co said on Thursday that it aims to grow the revenue of its consumer business group, which chiefly includes smartphones and personal computers, to $100 billion in three years and to $150 billion in five years.

The announcement came after the company's consumer business group posted $52.5 billion in revenue last year, up 45 percent year-on-year. That also marked Huawei achieving the target of $50 billion two years ahead of schedule.