SHENZHEN, April 8 China's Huawei Technologies Co
Ltd, the world's No.2 telecom equipment maker, said on
Monday it expects to record a compound annual growth rate of 10
percent in sales revenue over the next five years, lifted by
cloud computing and smartphone sales.
Rotating Chief Executive Officer Guo Ping was speaking at
the company's headquarters in the southern Chinese city of
Shenzhen where he confirmed a 32 percent rise in Huawei's 2012
net profit to 15.38 billion yuan ($2.5 billion).
Unaudited figures were released in January.
"Information and communications technology will continue to
grow, with new opportunities coming from cloud computing, BYOD
(Bring Your Own Device), and big data, and feature phones being
replaced by smartphones at a faster rate," the company said in a
(Reporting by James Pomfret; Writing by Anne Marie Roantree;
Editing by Edwina Gibbs)