Huawei Sees Slowest Growth in Years as It Takes on Apple

Revenue this year likely rose at its weakest pace since 2013
Flagging telecoms spending is offsetting smartphone growth

An attendee uses a smartphone to take a photograph of a P10 smartphone, manufactured by Huawei Technologies Co Ltd., during its launch ahead of the Mobile World Congress (MWC) in Barcelona, Spain, on Sunday, Feb. 26, 2017.Photographer: Chris Ratcliffe/Bloomberg

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By Bloomberg News

December 29, 2017 at 3:36 AM UTC

Updated on

December 29, 2017 at 10:00 AM UTC

This article is for subscribers only.

Huawei Technologies Co. warned of its slowest revenue growth since 2013, despite making headway against Apple Inc. in global smartphones.

Revenue at China’s biggest telecommunications gear maker probably rose 15 percent to 600 billion yuan ($92 billion) in 2017, rotating Chief Executive Officer Ken Hu said in a letter to staff posted on the company’s verified WeChat account. That’s down from 2016 when sales jumped 32 percent. The company shipped 153 million smartphones.