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Huawei flags slower smartphone and overall revenue growth

Huawei flags slower smartphone and overall revenue growth

HONG KONG: China’s Huawei Technologies on Friday flagged overall and smartphone revenue figures for 2017 that represented its slowest growth in four years, and vowed to extend its global reach with more premium products next year.
The telecom equipment and smartphone maker expects 2017 revenue to rise 15 per cent to 600 billion yuan ($92.08 billion), Chief Executive Ken Hu said in his New Year’s message.

That represents the slowest growth since 2013 for Huawei. Its fast revenue growth in recent years has been slowing as Chinese telecom carriers complete the construction of the world’s largest 4G mobile network and as competition intensifies in the smartphone market. Hu said Huawei’s smartphone shipments in 2017 totaled 153 million units and its global market share topped 10 per cent, cementing its position as the world’s third-largest smartphone maker after Samsung Electronics and Apple.