Huawei expects 'moderate' growth in Indian revenues this year

Huawei expects 'moderate' growth in Indian revenues this year
Chinese telecom equipment maker Huawei Tuesday said it expects a "moderate" growth in revenues from Indian market.

"In India, our revenue was almost flat, around USD 1 billion, due to uncertain regulatory environment. It was not only Huawei that was impacted but overall sector had seen the impact," Huawei's Head of International Media Affairs Scott Sykes said at company's global analyst summit here.

"This year, we expect a moderate growth," Sykes said.

Talking about Indian market, company's Chief Marketing Officer for Device Business Group Shaoyang said that Huawei has product portfolio ready for launch in the country.

The company is however working on different strategy for it as there is vast network of open retail channels and market is more price sensitive than other markets.

The company expects to be a USD 57-billion firm in the next five years.

"We enjoyed steady revenue development, recording sales of (Chinese yuan renminbi) CNY 220 billion or USD 35.4 bn in 2012. In the next 5 years, we expect to realise a compound annual growth rate of 10 percent (amounting to USD 57 bn)," Huawei's Corporate Controller CT Johnson said.

The company expects its carrier network business, building telecom networks, to contribute around 60 percent in overall revenue by 2017 followed by consumer business (25 percent) and enterprise business (15 percent).

At present carrier network business of the company accounts for 73 percent of group's overall business followed by consumer business with 22 percent and enterprise business 5 percent.

The privately owned company expects Europe to be its next big market after Asia in which China stands as the biggest revenue contributor.

"We are going to make Europe our second home after China.

We have plans to hire additional 5,500 people in Europe over a period of five years," Huawei's Chief Technology Officer for Carrier Networks Business Li Sanqi said.

Huawei said that it is gearing up to get aggressive on consumer business segment which has not been its forte earlier.

"As per market reports, we were third largest company in global smartphone shipments in last quarter of 2012 with around 32 million units. This year we are looking to ship around 60 million units globally. We are seeing Europeans customers coming back to us which will drive our growth," Shaoyang said.

He added the company expects revenue of device business group to reach USD 9 bn in 2013 globally.

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