Huawei targets July launch for public cloud service in China

Chinese telecom equipment maker Huawei Technologies said it will launch its public cloud computing services for Chinese corporate customers in July, becoming the latest Chinese company to enter the fast-growing market.Speaking at Huawei's Global Analyst Summit in Shenzhen on Tuesday, Huawei rotating chief executive Eric Xu did not name the Chinese telecom carrier with which it would partner to offer the service. But Xu said the strategy would not create competitive friction with Chinese carriers, which have already indicated they plan to offer public cloud services.Public cloud computing revenue in China is expected to approach $1 billion in 2015 and continue to grow at 33 percent a year for several years, according to consultancy IDC.Earlier this month, Huawei said its 2014 profit rose 33 percent, helped by strong sales of smartphones. The company based in the southern Chinese city of Shenzhen said it earned 27.9 billion yuan ($4.5 billion) last year. Revenue rose 20.6 percent to 288.2 billion yuan ($46.5 billion). Huawei is privately held but has released annual results in recent years in an attempt to ease concern in the United States and some other countries that the company might be a security risk.With inputs from Reuters