China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (1264)	11/6/2003 7:45:34 PM
From: RealMuLan	Read Replies (1) of 6370

China's Huawei Expects '04 Sales To Hit $5B Vs $3.5B '03 BANGKOK (Dow Jones)--China's Huawei Technologies Co. (HWI.YY) Thursday said its 2004 sales are likely reach $5 billion, compared with $3.5 billion expected this year. Xu Zhijun, Huawei's executive vice president and president for the company's wireless products, said sales will be driven by the huge growth in the global telecommunication industry. ADVERTISEMENT Xu was speaking to reporters on the sidelines of a 3G World Congress on third-generation mobile phone services. The company expects sales generated from the international market to be around $1 billion this year, with expectations of that figure rising to $1.5 billion-$2 billion next year, Xu said. Last year, the company recorded $2.7 billion in sales, of which $550 million came from exports. Xu said the company will maintain its research & development investment at around 15% of its annual sales. "We will keep on investing in R&D to sustain the development of our products and quick response to customers' demand," he said. Apart from providing fixed-line and mobile phone network infrastructure, the company has started to produce handsets. sg.biz.yahoo.com

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