China's Huawei plans major push into Japan by 2017
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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