VENTURE CAPITAL POST

China's Huawei Technologies Co Ltd is targeting $16 billion in revenue for its consumer business group this year, the head of the unit, Richard Yu, said on Tuesday.

The Chinese consumer product maker, which competes with Apple Inc and Samsung Electronics Inc for smartphones, said in December it shipped about 75 million smartphones in 2014, a 40 percent year-on-year increase but lagging its target of 80 million units.