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Huawei grows sales 8% in 2013

2014-01-15 09:10:00| Telecompaper Headlines

(Telecompaper) Huawei said it expects to report sales for 2013 up around 8 percent to CNY 238-240 billion. This is slightly less than its earlier outlook for over 10 percent growth. Operating profit is forecast at CNY 28.6-29.4 billion, helped by a focus on improving margins through cost reductions and efficiency efforts. Operating cash flow and the balance sheet total were stable compared to 2012, the company said. Huawei said it attracted new business at all three of its activities in 2013 - carrier networks, enterprise and consumer devices. It also invested in innovation, dedicating CNY 33 billion or 14 percent of revenue to R&D. In 2013, Huawei implemented a number of restructuring processes such as a reorganization of its corporate management, new training programs to motivate staff, as well as strengthening responsibilities for frontline management and field teams. The company will release full audited annual results in Q2.

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