Huawei's overseas business outstrips domestic sales
28/11/2005 16:18
Jane Chen / Shanghai Daily news
China's largest
telecommunications equipment supplier, Huawei Technologies Co Ltd, has seen its
overseas sales grow to exceed the domestic business, a milestone of its market
restructuring, today's Shenzhen Economic Daily reported.
This year, the
Shenzhen-based firm's overseas sales are expected to exceed US$5 billion,
beating its domestic sales for the first time, president Ren Zhengfei
said.
He expected the overseas business to expand further and account for 70
percent of the total by 2008, heralding a truly "globalized Huawei".
"The
company has undergone a new-round of overseas expansion, during which European
and North American markets have replaced less-developed areas such as Africa,
Latin America and Asia as our target overseas markets," Ren pointed
out.
Citing Europe as an example, he said sales reached US$300 million in the
first-half, with the annual sales target at US$600 million, three times the
figure of 2002.
In line with its overseas expansion strategy, Huawei had
established eight regional headquarters across the globe by October, with 55
representative offices and technological service centers. Its overseas sales
covered over 90 countries and regions, and included 22 of the world's top 50
telecom operators.
Ren attributed his company's boom to heavy investment in
pioneer technologies.
Of its over 30,000 employees, 18 percent are in
research and development, in which the company invests more than 10 percent of
its income, with investment last year standing at a high of US$487 million. It
has R&D centers in Beijing, Nanjing and Shanghai as well as
abroad.
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