Huawei Expecting a 46% Jump in 2008 Sales to $23.3 Billion

China's Huawei is anticipated to report a 46% jump in global contract sales for 2008 to US$23.3 billion, according to an internal email seen by the China Business News. Huawei Technologies also forecast sales of more than US$30 billion in 2009, the newspaper said, citing the internal Huawei e-mail dated 2nd January 2009.

"Looking into 2009, our global sales will exceed US$30 billion," chairman Sun Yafang was quoted as saying in the e-mail to Huawei employees. She warned though that the "global economic situation is very complicated, offering both challenges and opportunities,"

The total sales declared by Huawei are mostly contract sales, and the company's actual sales are generally estimated to be around 72% to 75% of the contract sales. Based on that presumption, actual sales in 2008 could come in at about US$17 billion.

In 2007, Huawei recorded sales (not contract sales) of US$12.56 billion (an increase of 49% from 2006) for the year, which makes it the fifth largest telecommunication company in the world in terms of revenue after Cisco, Ericsson, Alcatel Lucent, and Nokia Siemens

On the web: China Business News

Posted to the site on 7th January 2009