China's Huawei plans major push into Japan by 2017

BEIJING, June 6 Thu Jun 5, 2014 11:51pm EDT

BEIJING, June 6 (Reuters) - China's Huawei Technologies Co Ltd, the world's second-largest telecommunications equipment provider, said on Friday it is planning a big push into corporate Japan as it targets 2017 sales 15 times higher than last year's.

Huawei said its goal is revenues of 50 billion yen ($487.9 million) from sales of IT equipment to Japanese corporate customers in fiscal 2017, using competitive pricing to win orders from large firms.

Even so, this would still account for a fraction of Huawei's total sales. Revenues for 2013 were 239 billion yuan ($38.2 billion), while net profits were 21 billion yuan.

The Asia-Pacific region, which includes Japan, was Huawei's second-smallest market by revenue and second-slowest growth market after America in 2013. Asia Pacific revenues accounted for 16 percent of Huawei's total sales last year. ($1 = 102.4750 Japanese Yen) ($1 = 6.2548 Chinese Yuan Renminbi) (Reporting by Paul Carsten and Yimou Lee in Hong Kong; Editing by Stephen Coates)

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