China’s Huawei says targeting 7 percent profit margin

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HONG KONG (Reuters) – Chinese telecom equipment and smartphone maker Huawei Technologies Co Ltd [HWT.UL] said on Friday it is targeting a net profit margin of 7 percent going forward, adding that its carrier business growth rate will slow in 2017.

Huawei Chief Executive Eric Xu was speaking on Friday after the company said that net profit edged up just 0.4 percent last year, its slowest annual growth since 2011.

(Reporting by Sijia Jiang; Editing by Anne Marie Roantree)