Huawei Technologies Co Ltd said it expects to realize sales of more than $38.5 billion in 2013, a year-on-year increase of 10 percent.

Eric Xu, Huawei's rotating chief executive officer, said in a New Year message that Huawei's growth rate is in line with the company's estimates made at the beginning of 2013.

In the first half of 2013, Huawei saw sales of 113.8 billion yuan ($18.6 billion), a jump of 10.8 percent year-on-year. Xu predicted that Huawei's annual compound growth rate will maintain about 10 percent growth between 2013 and 2017.

[email protected]