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China's Huawei plans major push into Japan by 2017
June 6, 2014 / 4:27 AM / 4 years ago

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.

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

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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