China's Huawei aims to raise revenue by 10 pct in 2014 from 239 bln yuan in 2013

SHENZHEN, March 31 Sun Mar 30, 2014 10:55pm EDT

SHENZHEN, March 31 (Reuters) - Huawei Technologies Ltd aims to increase revenue by 10 percent in 2014, eyeing total sales of $70 billion by 2018, the company said at its 2013 annual results press conference in Shenzhen on Monday.

Huawei saw revenue rise 8.6 percent to reach a record 239 billion yuan ($38.5 billion) in 2013 versus company guidance of 238 billion yuan to 240 billion yuan, as profit margins improved for the second year in a row.

Net profit for 2013 rose 34.4 percent to 21 billion yuan, its fastest growth rate in four years. ($1 = 6.2122 Chinese Yuan) (Reporting by Yimou Lee in SHENZHEN; Writing by Paul Carsten in Beijing; Editing by Christopher Cushing)

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