Huawei expects $24b sales in 2008

10 Jan 2008

Huawei is aiming for $25 billion global sales in 2008, up from $16 billion in 2007, has reported.

CEO Ren Zhengfei told a recent company meeting that gross sales grew 45% in 2007. He said Huawei expects $24 billion in gross revenue in '08, and is aiming for as much as $25 billion, according to staff sources.

Shenzhen-based Huawei is China's largest communications vendor and one of its largest hi-tech manufacturers. The privately-held firm does not report its profit or other financial data.

An executive in Huawei's wireless department said the firm sold more than $7 billion in wireless network gear in 2007, including 39 UMTS contracts and 21% of the world's installed GSM lines.

Huawei's customers in 2007 included France Telecom, Vodafone Greece, O2 Germany, Telecom Italia, Leap Wireless, America Movil, Optus and the biggest African operator, MTN.

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