Huawei Reports Slower Growth

Chinese phone maker, Huawei, reported a slowdown in growth last year as the company begins to increase investment in its smartphone business.

Huawei said that it expects its operating profit to be between $5.46 and $5.53 billion for 2014, marking an increase of 16.4% to 17.8%. In the previous year, the company had reported a 41% year on year increase in operating profit. The company has not disclosed its net profit for 2014 or for its smartphone business, saying only that the business segment was profitable. Huawei also indicated that it expects to post turnover for last year between $46.4 billion and $46.7 billion.

Huawei was ranked third in the world’s smartphone market by sales volume in the third quarter of last year, according to Gartner, behind Samsung and Apple (Smartphones Rise in Q3, But Mobile Sales Are Flat).