In his speech for the New Year, Huawei CEO Hu Houkun said the company expects revenue to grow 15% in 2017 to reach 600 billion yuan (about 92.08 billion U.S. dollars).
Such growth is Huawei's lowest level since 2013. Huawei's revenue growth has been slowing in recent years as China's telecom operators complete the construction of the world's largest 4G mobile network and intensify competition in the smart phone market.
Hu Houkun said Huawei's smartphone shipments in 2017 reached 153 million units with a global market share of over 10%, consolidating its position as the world's third-largest maker of smartphones, with the top two handset makers behind it being Apple And Samsung.
Huawei said while the smartphone business is growing rapidly, the profit margin of the business is very low. Combined with the drag on marketing expenses, the company announced in March that annual profit growth will be almost flat. After that, the company will focus on profitability.
Yu Chengdong, chief executive of Huawei Consumer Business Group, said in another New Year speech that in the past year, the Group has made significant growth in markets such as Italy and Germany and the Group will strive to obtain a larger share of the global high-end market.
Yu Chengdong said: "We will have disruptive products and innovative technologies to lead the global market by 2018. I believe 2018 will be our first year of truly global excellence."
In October, Huawei unveiled the Mate 10-series smartphones, the company's most expensive cellphone ever launched, which is said to carry faster AI chips than the chips used by the Apple iPhone. "Yu Chengdong said the phone is' Sold very well ', but he did not disclose the specific data.
Yu Chengdong said he expected the department's revenue to grow by 30% to 236 billion yuan, the lowest growth rate since 2013. He said: 'We need to better understand the high-end users outside China and China's young fashion spending 'S needs.
IDC, an industry tracking research firm, expects total smart phone shipments in China to decline from the previous year.
Hu Houkun also said that Huawei's business needs to maintain a moderate growth rate and become the company's pillar business within five years.
He also hoped that the company's consumer business will increase profitability and hopes the new public cloud business can scale up, hoping that core operator business will outperform the industry average.