China's Huawei forecasts $2.5b in 4G revenue this year
HONG KONG (REUTERS) - Huawei Technologies expects to take in more than US$2 billion (S$2.5 billion) in revenues selling 4G gear this year as global carriers from China to Europe expand their networks, senior company executives said on Wednesday.
Even though 4G LTE (long-term evolution) promises faster video streaming and Internet downloads, the cost of smartphones would need to come down before the technology can enter the global mainstream, they told reporters in a briefing.
"The price of LTE smartphones is still higher that those without LTE technology. This is normal," said Mr Peter Zhou, executive vice-president for the LTE business unit at Huawei, the world's No. 2 telecom equipment maker ranking behind Sweden's Ericsson.
There are 100 million 4G LTE users globally now, which makes up a small fraction of total mobile subscribers. That 4G number will grow to 1 billion in 2016, or more than half of total global subscribers, Mr Zhou said.