Huawei Expects Sales to Rise 20% This Year on Smartphones
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Huawei Technologies Co., China’s largest maker of phone equipment, will boost research spending by 20 percent this year to fuel an expansion into smartphones and cloud computing, the acting chief executive officer said.
Spending will increase to $4.5 billion from $3.76 billion last year, Eric Xu Zhijun said at Huawei’s annual analyst day at its headquarters in Shenzhen today. The company disclosed this week that Xu is one of three rotating CEOs serving six-month terms. Xu’s rotation began this month.