ABU DHABI: Huawei Technologies Co Ltd sees turnover growth in the Middle East region between 5 and 10 percent in the near-term despite the slowdown as it diversifies into new business lines, a senior company official said on Thursday.
The Chinese information and communication technology (ICT) major operates in 12 markets stretching from Afghanistan and Pakistan to Jordan and Lebanon.
The firm earned $2.8 billion in revenue from the Middle East region in 2010 and expects to close this year with a turnover of around $3 billion, Tony Wong, Middle East director at the chief technology officer's office said.
"We have begun diversifying into new businesses - enterprise and consumer solutions and this will help in revenue growth of about 5 to 10 percent in the coming few years," he said in an interview.
Huawei's largest market in the region is Saudi Arabia. Across the region, it employs some 3500 people with 65 percent of the workforce recruited locally, he said.
The global economic downturn has led to a slowing of projects in most markets but oil-rich Gulf markets continue to spend on building infrastructure as most of them are fast-growing and with rising populations.
"There are projects going on in most Gulf countries, upgrade of networks to broadband and implementing latest technologies. But it is also very competitive," he said, declining to provide details of projects.
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