Huawei’s sales revenue for 2015 to jump 35% with 390 billion yuan

© REUTERS/PHILIPPE WOJAZER: Hostesses hold the Huawei’s smartphone, the Ascend P7, May 7, 2014.

Huawei Technologies Co, one of the largest telecom equipment makers worldwide, has said that it expects to post a 35% jump in sales revenue for 2015.

Huawei, the Shenzhen-based company expects its revenues to reach about 390 billion yuan ($60 billion) for the year, acting chief executive Guo Ping said. The company posted an operating margin of 18% in the first six months of 2015, compared with 18.3% in the previous half-year.

Huawei earlier this year set a target of 20% growth in global revenue for 2015. They company had targeted overall revenue of $70 billion by 2018. It posted 21% revenue growth last year.

“solid increase in profits and cash flow”

As WSJ notes; Guo Ping, rotating and acting Chief Executive Huawei, told the staff in an open letter that the company also saw a “solid increase in profits and cash flow” in 2015. No additional details were provided although.

As Huawei usually release annual financial details around the month of April every year, the company didn’t release any detail about quarterly results.

In the letter, Mr. Guo also said that Huawei is investing about 110 billion Chinese yuan a year, which divides into “research and development” and “sales, marketing and services” with 50 billion yuan and 60 billion yuan respectively.

He also said that Huawei needs to make sure they are on the right direction as they move on.