Published:  12:00 AM, 31 December 2016

China's Huawei sees slower revenue growth for 2016


China's Huawei Technologies Co Ltd, one of the world's largest telecom equipment makers, said on Friday it expects 2016 revenue growth to slow slightly to 32 percent and forecast greater uncertainties next year, reports Reuters.

The Shenzhen-based company, which competes with Sweden's Ericsson (ERICb.ST) for the top spot in the global market for telecoms equipment, sees 2016 revenue hitting 520 billion yuan ($74.8 billion), said Eric Xu, Huawei's rotating chief executive.

The expected growth rate for this year represents a slowdown from the 35 percent rate posted in 2015 and the company said it would face greater global political and economic uncertainties in 2017.

"The year 2016 has seen a flock of black swans - both political and economic - sweep across the globe. Nevertheless, we have remained focused on our strategy and have patiently applied ourselves to making breakthroughs and creating real value for our customers," Xu said. "In 2017, we will face even greater global political and economic uncertainties."

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