Huawei posts 30% Revenue Gain for Consumer Units

Big 5

Huawei Technologies Co. said revenue from its consumer business, which consists mostly of mobile phones, rose 30% to $12.2 billion last year, thanks in part to its efforts to sell more smartphones in higher price ranges.

The results, announced Tuesday, are in line with what a Huawei executive said in a letter to staff in late December. In that letter, Richard Yu, head of Huawei’s consumer business, said Huawei’s 2014 handset revenue grew about 30% to more than $11.8 billion.

Huawei, one of the world’s largest suppliers of networking equipment used by telecommunications carriers, is also increasing its presence in the global smartphone market.

Source: MarketWatch