China's Huawei plans major push into Japan by 2017

BEIJING Fri Jun 6, 2014 9:52am IST

Journalists attend the presentation of Huawei's smartphone, the Ascend P7, launched by China's Huawei Technologies in Paris, May 7, 2014. REUTERS/Philippe Wojazer/Files

Journalists attend the presentation of Huawei's smartphone, the Ascend P7, launched by China's Huawei Technologies in Paris, May 7, 2014.

Credit: Reuters/Philippe Wojazer/Files

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BEIJING (Reuters) - China's Huawei Technologies Co Ltd [HWT.UL], the world's second-largest telecommunications equipment provider, said on Friday it is planning a big push into corporate Japan as it targets 2017 sales 15 times higher than last year's.

Huawei said its goal is revenues of 50 billion yen ($487.9 million) from sales of IT equipment to Japanese corporate customers in fiscal 2017, using competitive pricing to win orders from large firms.

Even so, this would still account for a fraction of Huawei's total sales. Revenues for 2013 were 239 billion yuan ($38.2 billion), while net profits were 21 billion yuan.

The Asia-Pacific region, which includes Japan, was Huawei's second-smallest market by revenue and second-slowest growth market after America in 2013. Asia Pacific revenues accounted for 16 percent of Huawei's total sales last year.

($1 = 102.4750 Japanese Yen)($1 = 6.2548 Chinese Yuan Renminbi)

(Reporting by Paul Carsten and Yimou Lee in Hong Kong; Editing by Stephen Coates)

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