Huawei said it's optimistic about the market outlook and targets a compound annual growth rate of 10 percent in the coming five years. The company gave the forecast in its annual report, which confirmed revenues up 8 percent in 2012. Growth came mainly from its expansion in the enterprise equipment market, with sales up 25.8 percent, and its consumer device business grew sales 8.4 percent. Total device shipments reached 127 million in 2012, with smartphones up 60 percent to 32 million. The network equipment business increased sales 6.7 percent, still accounting for over half the business.
