Huawei Technologies Co Ltd, a leader in providing next-generation telecommunications networks for operators worldwide, expected its handset revenue to hit US$4 billion in 2008, up 74% compared with the same period of last year, sources reported.

Huawei predicts that the annual growth rate of its terminal business will top 30% over the following five years, thanks to the higher demands in emerging markets, according to Guo Ping, executive vice president of Huawei.

Guo said the company's shipment of handset terminals will be doubled to 80 million units this year thanks to the increased orders of customized handsets from telecom operators, diversified services and the enhanced customer loyalty.

The global handset market is likely to slow next year because of the economic downturn worldwide, said the company. However, Huawei is still optimistic about its future development as the company's business focuses on the emerging markets and it has broadened its alliance with telecom operators.

As of September 2008, Huawei's global shipment amounted to 150 million handsets, while its average annual compound growth rate hit 72% over the past three years.

 Source:China Knowledge