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Huawei plans to close 2006 with $10 billion sales revenue.(Huawei Technologies Company Ltd.)(Brief article)
China Telecom, August, 2006
China's leading telecom software and network maker, Huawei Technologies, in a press meeting revealed that its sales revenue would increase by 22 percent to $10 billion in fiscal year 2006. In FY 2005, the company achieved $8.2 billion in total revenue.
The company said it expects the Middle East and North Africa to be one its main markets for the future growth. In 2005, the Chinese company had sold goods and services worth over a $1 billion. However, it declined to provide estimated sales from this region. In 2005, Huawei reported a net profit of $681 million; the company's net profit has been growing at a CAGR of 28 percent since 2001. The Chinese company invests nearly 10 percent of its revenue in research and development of new products and services. The...
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