Chinese telecoms equipment vendor Huawei expects annual revenues from its sale of 4G networks to double to about $4 billion between 2013 and 2014, according to a report from Reuters.
Speaking to reporters in Shanghai, David Wang, the president of Huawei’s (Shenzhen, China) wireless network business unit, also said that overall wireless revenues would hit $12.9 billion in 2014, compared with $11.7 billion in 2013.
The statements come just weeks after China’s government awarded 4G licenses to the country’s three biggest mobile operators, with Huawei and local rival ZTE (Shenzhen, China) expected to benefit considerably from operator spending on the rollout of their 4G networks.
Huawei now claims to have signed more than 241 4G contracts worldwide and says this is more than any other equipment vendor.
The company also reckons 4G will become an increasingly important standard for the use of M2M services in areas like intelligent traffic management systems and smart grids.
M2M services have traditionally relied on 2G connections because of the low bandwidth requirements of many applications, but 4G looks set to become popular as costs fall, networks bloom and new services appear.
“Huawei began its investment in LTE network development in 2009,” said Wang. “This investment, together with our active participation in 3GPP standards and our commitment to our customers, is continuing to pay off with strong year on year growth.”
Huawei also claims to have played a key role in the development of the LTE-Advanced standard, capable of supporting data speeds of up to 300Mbps.
“Despite the progress we've seen over the last 10 years, we still believe we are only at the beginning of what's possible,” said Wang. “The mobile networks of the future will connect to any device, anywhere in the world, with near zero latency.”