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China’s Huawei Sees Slower Revenue Growth for 2016

China's Huawei Technologies Co Ltd is one of the most famous and world's largest telecom equipment makers, said on Friday it expects 2016 revenue growth to slow slightly to estimated 33% and forecast greater uncertainties next year.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 approximately 520 billion yuan ($74.8 billion), said Eric Xu, Huawei's rotating chief executive.

China's Huawei Sees Slower Revenue Growth 2016

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