Huawei today issued guidance for its fiscal 2014, highlighted by 32 percent year-over-year growth for its Consumer Business.
The China-based OEM attributed the growth to higher sales of mid-range and high-end handsets and said the company saw particularly strong growth in emerging markets.
Half way through 2014 Huawei announced that it had shipped more than 34 million smartphones. According to a Wall Street Journal report, the head of Huawei’s consumer business group revealed late December in an internal email that the company had shipped more than 75 million smartphones in 2014.
Despite strong smartphone sales and a 15 percent annual revenue increase for Huawei’s network infrastructure business, operating profit was only due to rise about 17 percent year-over-year. As the Wall Street Journal points out, Huawei’s 2013 operating profit rose 41 percent year-over-year.
Huawei said operating margins held steady at 12 percent. The company expects total global revenue for 2014 to fall between 287 billion Yuan and 289 billion Yuan—averaging more than $46 billion.
Huawei faces stiff competition from other Chinese smartphone vendors like Lenovo and Xiaomi. Lenovo recently completed its acquisition of Motorola Mobility, and Xiaomi rose to third in IDC’s 2014 third-quarter smartphone market share report, capturing 5.2 percent share.
Filed Under: Infrastructure