Huawei set to exceed US$100bn revenue in 2018

Huawei’s rotating Chairman Eric Xu said on 29 November that the firm is on track to hit an annual revenue of over US$100bn in 2018, according to CNBC

In a statement whose translation has been confirmed by CNBC, Xu said: “There is no problem that we can hit the $100 billion mark.”

While Xu did not elaborate on the key drivers behind this enormous figure, the Chinese electronics giant has been rolling out a slew of high-impact technology and devices such as the Huawei Mate P20 smartphone and its continuously growing range of AI and IoT solutions.

Huawei also overtook Apple as the world’s second-largest smartphone manufacturer in July this year, holding 14.6% of the global market in Q3, according to Statista, while Apple holds 13.2%.

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Samsung continues to reign supreme with 20.9% of the market.

In March, South China Morning Post reported that Huawei was eyeing the $100bn target, naming 5G and IoT products as the likely triggers for the jump in revenue.

“Emerging technologies like the Internet of Things, cloud computing, artificial intelligence and 5G will soon see large-scale application,” Ken Hu Houkun, Huawei’s rotating Chairman at the time, said according to SCMP.

“Ultimately, we aim to bring digital to every person, home and organisation for a fully connected, intelligent world.”