Huawei Revenues to Hit US$ 2 Billion Mark as Sales of LTE Product Grows

Huawei Revenues to Hit US$ 2 Billion Mark as Sales of LTE Product GrowsHuawei Technologies Co. will take in around US$ 2 billion in revenues just by selling their 4G products as carriers around the world from Europe to China is expanding their networks. Even if 4G LTE or long term evolution gives faster video streaming and Internet downloads.

Still the prices of smart phones needs to be lowered to a reasonable price before the 4G technology can penetrate the global mainstream. Executive vice president Peter Zhou for the LTE unit of Huawei said that its normal to see prices of LTE smart phones to be a little higher than non LTE smart phones, and as for the moment there are more than 100 million LTE users worldwide which just a small fraction of the total subscribers and is said to reach 1 billion in 2016 or more than half to the total worldwide users.

Experts are saying that by 2015 a multi mode smart phone including LTE smart phones will equal the price of a regular smart phone and also by that time the portion of the LTE smart phones will be much larger. Spending of infrastructure for 4G LTE will tripled in 2013 from US$ 8 billion to US$ 24 billion due to network expansions in major markets.

The LTE revenues of Huawei last year was insignificant but quickly rose to US$ 1 billion in just the first half of the year and is on track to hit the US$ 2 billion mark for 2013.

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