Huawei sees 10% annual revenue growth over next five years

Chinese telecom equipment firm Huawei expects to grow its revenues by 10 per cent annually over the next five years from the $US35 billion it achieved in 2012.

"This growth will come mainly from consumer devices and enterprise," Huawei's Vice President of Western Europe sales, Gaston Khoury said at a media presentation in Stockholm.

Huawei, whose arch rival in mobile networks is Sweden's Ericsson, said this diversification would mean the share of carrier networks in its overall sales would fall from around 73 per cent of the total in 2012 to around 60 per cent in 2017.

The company said in July it had revenues of 113.8 billion yuan ($US18.59 billion)in the first half of the year and that it was on track to increase revenues by 10 per cent in the full year 2013.

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