Peter Zhou, EVP Huawei’s LTE business unit, told reporters that there are now 100 million 4G users across the globe. He expects that number to grow to 1 billion by 2016.
As a result of global carriers across China and Europe expanding and upgrading their networks, senior executives at the company foresee a notable increase in income.
Huawei’s 4G LTE revenues were relatively small last year, Reuters reports, but grew to $1 billion in H1 of 2013. Bob Cai, VP for wireless marketing at Huawei, said that the company was on track to reach $2 billion by the year end.
Spending on 4G infrastructure is expected to nearly triple in 2013, from £8.7 billion in 2012 to $24.4 billion, according to regional research firms.
Huawei has implemented its 4G technology this year with Telecom New Zealand, Italian operator Wind, and the Ethiopian government, among others.
