Huawei aims to boost consumer revenue

Huawei Technologies Co said on Thursday that it aims to grow the revenue of its consumer business group, which chiefly includes smartphones and personal computers, to $100 billion in three years and to $150 billion in five years.

Yu Chengdong, CEO of Huawei's consumer business group, said five years later, smartphones will account for about two-thirds of the $150 billion revenue goal, and computers, smart watches as well as other Internet of Things devices are likely to account for about one-third or 40 percent of the goal.

The goal came after the company's consumer business group posted $52.5 billion in revenue last year, up 48.1 percent year-on-year. That also marked Huawei achieving the target of $50 billion two years ahead of schedule.

According to Yu, Huawei is likely to become the largest smartphone vendor at the earliest by the end of this year, though its products are not available in the United States and South Korea because of "non-market factors".

"If not this year, we can definitely achieve that ambition next year," Yu said. "Our market share is still growing very rapidly."