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ZDNet Asia | May 26th, 2011 | Kevin Kwang
Chinese telecoms equipment vendor ZTE has set its sights on narrowing the gap with market leader Huawei Technologies, looking to its terminal and cloud computing businesses to drive over 20 percent growth in revenue this year.
Local news agency China Daily reported Thursday that Huawei recently forecasted an increase of less than 10 percent in sales, from 2010’s 185.2 billion yuan (US$28.5 billion) to 199 billion yuan (US$30.7 billion) this year. Comparatively, ZTE’s revenue for 2010 was about a third of Huawei’s at 70.26 billion yuan (US$10.8 billion), it added.
