BEIJING 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)
Trending On Reuters
Though Apple Inc is selling enough iPhones to keep investors happy for now, the world's most valuable publicly traded company is set increasingly to rely on its apps and services to drive growth. Full Article | Related Story
- EXCLUSIVE - Alibaba, eBay, CVC bid for Polish auction site Allegro - sources
- After mass shooting, German police focus on 'dark net' crime
- Twitter's video push seen unlikely to fast-forward revenue growth
- Video: Belgian scientists turn urine into drinking water
- Video: Shape-changing cellphones could be the future