Huawei expects to report $46 billion in revenue for last year

Even though Huawei fell a bit short of its goal to ship 80 million smartphones in 2014, the company did increase its revenue by 15% to $46 billion. That information comes from CEO Ken Hu, who posted it on the company's website. Huawei, one of a number of Chinese smartphone manufacturers that has been growing by leaps and bounds, also is involved in the production and sales of networking equipment globally.

Huawei has an internal target, hoping to reach $70 billion in sales by 2018. To reach that goal, the company will have to score an annual revenue growth rate of 10%. It did surpass that growth figure in 2014, so Huawei is not setting an unrealistic goal.

As we reported last month, Huawei's smartphone sales rose by 33% last year, hitting a total of $11.8 billion. 75 million units were shipped, allowing the company to finish last year as the third largest smartphone manufacturer in the world. Samsung and Apple are both in front of Huawei, and hard-charging Xiaomi is right behind.

source: Reuters