Huawei has said that it expects 2014 revenues and profits to rise substantially, with R&D spending also on the up. 

The China-based vendor revealed pre-audited results that showed revenues are expected to rise 20 percent year-on-year to reach between CNY287-289 billion (€39.1-39.4 billion).

Carrier Network sales increased by approximately 15 percent as operators continued investment in 3G and 4G tech, while its consumer business recorded a 32 percent rise thanks to customers in emerging markets snapping up its handsets.

Its enterprise arm saw sales increase by 27 percent as Huawei said it now serves more than 100 of the world's top 500 companies.

[Read more: Telenor selects Huawei for network upgrade]

Meanwhile, profit from its three main business units is set to grow by 12 percent to reach approximately €4.6 billion.

Huawei’s Chief Financial Officer Meng Wanzhou said the company invested roughly €4.5 billion in R&D, an increase of 28 percent on 2013.

Last October, Huawei said it expects to make direct purchases worth €3 billion in Europe this year after announcing plans to increase its procurement spending in the region.

“The core values of ‘being customer-centric, making dedicated employees the foundation of our success, and our overall commitment to dedication’ have been the cornerstones of Huawei's growth over the past 20-plus years,” Meng said.

“Huawei will continue to follow and embed these core values across the organisation over the next decade to help us become the leader in the ICT industry.”

Audited financial results will be announced in March, the company said.​

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