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Huawei Seeks To Become World's Third Largest Data Storage Provider By 2018

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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Journalists follow the presentation of Huawei's new Mate S smartphone ahead of the IFA Electronics show in BerlinBy Yimou Lee HONG KONG (Reuters) - China's Huawei Technologies Co Ltd [HWT.UL] aims to become the world's third-largest data storage provider by 2018 as it targets European and local institutions to takes market share from leaders EMC Corp and International Business Machines Corp. "We don't want to just be No.1 in China...We want to be at least the top three in the world by 2018," Huawei's storage product line president Fan Ruiqi told Reuters, referring to the global market for data-storage, which was worth $5.3 billion in the second quarter. To grow its market share, Huawei plans to target financial institutions, governments and telecom carriers for data storage, a business Fan said is expected to yield at least 60 percent year-on-year growth this year from 55.6 percent growth in 2014.




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