Reuters reports that Chinese manufacturer Huawei has ambitions of doubling up its record 2013 revenue by 2018. This is despite slowing growth in its bread-and-butter mobile telephony business, and very low penetration in the US market, where it has been flagged as a potential espionage threat by government officials.
Huawei is coming off a hugely successful 2013 campaign, where it was able to become the third largest smartphone manufacturer thanks to competitive low-cost smartphones in emerging markets, and high-end offerings like the Ascend P6 for more established economies.
This resulted in a whopping 34% increase in profit growth in 2013, and elevated the company as the third largest global smartphone manufacturer behind Samsung and Apple.
This year, Huawei plans on growth not only from its consumer smartphone and enterprise divisions, but also thanks to its carrier network business as more Chinese carriers plan on laying out 4G networks.
Huawei's ambitious announcement comes in spite of increasing espionage allegations from US lawmakers due to the company's affiliations with China's People's Liberation Army. Late last year, Huawei CEO and former PLA major Ren Zhengfei announced that the company plans on withdrawing from the US market due to the aforementioned accusations.
It's undoubtedly a lofty goal, especially if the company plans on turning its back on the second largest global smartphone market.