Huawei announces it will be worth $100bn by 2018

Huawei chairman announced that the Chinese tech giant's revenues are set to surpass $100bn in the same year it overtook Apple as the world's second largest smartphone provider


Huawei's revenues are set to surpass $100bn for the first time this year, according to Eric Xu, one of the rotating chairmen at Huawei, in an interview with CNBC on November 29.

Xu has claimed that the business is growing "slightly better" than expected and added: "There is no problem that we can hit the $100bn mark."

Huawei generated 325.7bn yuan ($49bn) in the first half of 2018.

While Xu did not elaborate on the factors driving the growth, 2018 it has seen a strong performance in a number of its businesses, especially the consumer division and the increasing popularity of its products in the APAC region.

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This year it also overtook Apple as the second largest global provider of smartphones, when it was revealed that it occupied 13% of the global market. Of the revelation, Gartner research director Anshul Gupta commented that its success was because "Huawei continues to bring innovative features into its smartphones and expand its smartphone portfolio to cover larger consumer segments".

The tech giant has also been investing heavily in AI to remain competitive with its competitors like Samsung, who currently hold the title for the largest smartphone provider, and Apple. For example, in October Huawei released its full stack AI portfolio that comprises of two AI chips, Ascend 910 and Ascend 310, with the aim to drive AI development within the ICT industry.

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