Huawei sets sales target of $100b in 5 yrs

Huawei Technologies Co Ltd, the world's largest telecom equipment maker, is looking to grow its annual sales of consumer electronics to $100 billion within five years, according to founder Ren Zhengfei.

He revealed the target to staff on Wednesday evening, and said the firm is planning to introduce more high-end devices to lift revenue.

He said its smartphone unit is likely to dominate sales in the future, but that sales of wearables and electronic accessories would also continue to be big earners.