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Huawei sales top $100bn despite US-led pressure | Huawei sales top $100bn despite US-led pressure |
(about 2 hours later) | |
Chinese telecoms giant Huawei said revenues topped $100bn in 2018 despite a US-led campaign against the business on fears it poses a security threat. | Chinese telecoms giant Huawei said revenues topped $100bn in 2018 despite a US-led campaign against the business on fears it poses a security threat. |
The firm said revenue for 2018 hit 721.2bn yuan ($107bn), while net profit jumped 25% to 59.3bn yuan. | The firm said revenue for 2018 hit 721.2bn yuan ($107bn), while net profit jumped 25% to 59.3bn yuan. |
The US and others have restricted the company over concerns that its ties to Beijing represent a security threat. | The US and others have restricted the company over concerns that its ties to Beijing represent a security threat. |
Huawei says it is independent and strongly denies its products pose a security risk. | Huawei says it is independent and strongly denies its products pose a security risk. |
The Shenzhen-based firm said global revenue surged 19.5% in 2018, its fastest pace of growth in two years. The result was supported by strong sales of smartphones in China. | The Shenzhen-based firm said global revenue surged 19.5% in 2018, its fastest pace of growth in two years. The result was supported by strong sales of smartphones in China. |
At the same time its carrier business, which sells telecoms infrastructure to countries around the world, eased 1.3%. | At the same time its carrier business, which sells telecoms infrastructure to countries around the world, eased 1.3%. |
Huawei is the world's largest maker of telecoms equipment. It faces a growing backlash from Western countries on concerns over the security of its products used in next-generation 5G mobile networks. | Huawei is the world's largest maker of telecoms equipment. It faces a growing backlash from Western countries on concerns over the security of its products used in next-generation 5G mobile networks. |
The US, Australia and New Zealand have all blocked local firms from using Huawei to provide the technology for their 5G networks. | The US, Australia and New Zealand have all blocked local firms from using Huawei to provide the technology for their 5G networks. |
Several European telecoms operators are considering removing Huawei equipment from their networks, and a report by UK cyber authorities out this week strongly criticised the tech firm. | |
The report, issued by the National Cyber Security Centre, said it can provide "only limited assurance that the long-term security risks can be managed in the Huawei equipment currently deployed in the UK". | The report, issued by the National Cyber Security Centre, said it can provide "only limited assurance that the long-term security risks can be managed in the Huawei equipment currently deployed in the UK". |
Huawei has begun pushing back. It has launched a more aggressive strategy in recent months to counter what it sees as an American "smear" campaign. | Huawei has begun pushing back. It has launched a more aggressive strategy in recent months to counter what it sees as an American "smear" campaign. |
Earlier this month, it filed a lawsuit against the US government over a ban that restricts federal agencies from using its products, arguing it is "unconstitutional." | Earlier this month, it filed a lawsuit against the US government over a ban that restricts federal agencies from using its products, arguing it is "unconstitutional." |
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