Huawei Set for $5B in 2004
If Huawei achieves that 2005 target, the vendor's sales would have more than doubled in two years, as it achieved revenues of $3.2 billion in 2003.
And Alan Hsu, the marketing director for mobile terminals, told media representatives at a trade show in Hong Kong that international sales could account for more than half of 2005's sales, or $3.5 billion.
He said international sales were expected to be about $2 billion this year. That would be almost double the 2003 figure of $1.05 billion, and almost four times 2002's $552 million.
This tallies with figures given to Light Reading by Johnson Hu, Huawei's vice president in charge of international development. Hu said that Huawei's international sales topped $1.5 billion in the first three quarters of 2004, and went on to say that Huawei had a target of $10 billion in overall sales by 2008.
It's worth pointing out that the sales figures cited by Huawei are often the value of contracts it's won rather than the amount that it's invoiced customers. In 2003, its booked sales were $3.8 billion and its billed sales were $3.2 billion (see Huawei Reports Record Revenues and ZTE Doubles International Revenues).
There's no doubt that those in the industry expect Huawei, and its rival Chinese vendor ZTE Corp. (Shenzhen: 000063), to grow like wildfire in the coming years and both have stated intentions to increase their international revenues (see The Chinese Are Coming, Says Poll and ZTE Nears HK IPO).
Huawei consistently announces contract awards outside its home territory, and only last week announced a series of deals in Africa totaling $400 million in value (see Huawei Claims $400M African Contracts).
And analysts expect Huawei's and ZTE's international aspirations to be boosted in the coming years by the growing interest in the Chinese market from Western vendors (see Heavy Reading Reports on VOIP).
— Ray Le Maistre, International News Editor, Light Reading