Huawei targets $100 b in revenues by 2020

 Huawei, information and communication technologies (ICT) provider based in China, plans to triple its revenue by 2020 to $100 billion as it sees good traction in the sector.

 At present, Huawei is a $32.4-billion company and Vice-President (Corporate Media Affairs) Scott Sykes is hopeful that the company will achieve the target. The company has always been heavily investing in research and development (R&D) and Sykes said, “We knew from the beginning that R&D would be crucial for the company.” 

Huawei, which is neither state-owned nor a public company, is owned by employees and the company now plans to extend this model to non-Chinese workers.

 “As the company now has a global presence, it’s important that this benefit be extended to all and the board is discussing the issue, but no time or duration has yet been ascertained,” Sykes added. 

This programme benefits 60,000 of its 140,000 employees worldwide in form of dividends paid according to stock prices. Its R&D centre in Bangalore has strength of over 2,700 software engineers, market technical support engineers and management professionals and is the largest overseas R&D centre for Huawei.

 “Ninety five per cent of the staff in the Bangalore centre is local and we are building a new R&D campus in Whitefield for $150 million and would house 4,000 employees,” Huawei Senior Vice-President (Engineering) Virendra Gupta said.