Huawei sales rise 11 per cent as it gains ground on rival Ericsson

CHINA’S Huawei Technologies, the world’s number two network equipment maker, posted an 11 per cent rise in its first-half sales yesterday as it closes in on market leader Ericsson.

Huawei, one of China’s best-known names in the technology sector, faces a weak global economy due to US and European debt woes that could hamper telecom spending worldwide.

Huawei reported first-half sales of 98.3bn yuan (£9.2bn), up 11 per cent from a year earlier, it said in a statement yesterday, with its sales performance lagging some competitors.

The Shenzhen-based company said it was on track to achieve annual sales of 199bn yuan for the year.

Unlisted Huawei, which is announcing interim results for the first time, reported an operating profit of 12.4bn yuan for the first six months.