Huawei expects that the average annual revenue growth rate will reach 10% in the next five years

Telecom equipment manufacturer Huawei said on Wednesday that the company expects an average annual revenue increase of 10% over the next five years. Huawei's annual revenue in 2012 was 35 billion US dollars.

Gaston Khoury, Huawei ’s vice president for sales in Western Europe, said at a media conference in Stockholm: “This growth will mainly come from consumer equipment and corporate business.”

Huawei expects that the average annual revenue growth rate will reach 10% in the next five years

Huawei ’s main competitor in the global telecommunications equipment market is Sweden ’s Ericss. Huawei pointed out that the diversification of business means that the telecommunications operator equipment business's share of the company's total revenue will drop from about 73% in 2012 to about 60% in 2017.

Huawei said in July this year that the company's revenue in the first half of this year was 113.8 billion yuan (about 18.59 billion US dollars), so 2013 revenue is expected to increase by 10% year-on-year.

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