Huawei to Invest More in Global Marketing
The third biggest smart phone manufacturer Huawei Technologies Co. is planning to spend around US$ 300 million in global marketing for this year. Huawei will be spending the funds on marketing as the company is trying to move its products up market as they shift their focus from creating low end smart phones to mid ranged and high end smart phones from now on.
For this year the company is aiming its sales efforts in improving their branding image. Huawei’s acting CEO Eric Xu states that the growth of the business is not met negatively nor affected by the concerns of its products security after reports on US authorities were caught hacking into the company headquarters. Analysts were also concerned on the company’s business is suffering over the worries on the security of its products, but were assured that the company is not affected negatively.
Although the NSA does not affect nor has an impact on their business growth, it has impacted on their workloads especially in communicating and persuading the current industry stakeholders that the products are definitely secure. The company also plans on rotating CEOs to end and the company will be managed by a leadership team instead of an individual.
For the next five years Huawei is targeting to reach revenue of US$ 10 billion as its global services business is predicting a 17 percent growth.