{"id":37907,"date":"2019-03-29T07:23:04","date_gmt":"2019-03-29T07:23:04","guid":{"rendered":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=37907"},"modified":"2019-03-29T07:23:04","modified_gmt":"2019-03-29T07:23:04","slug":"huawei-says-2018-sales-surged-above-100bn-despite-us-pressure","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=37907","title":{"rendered":"Huawei says 2018 sales surged above $100bn despite US pressure"},"content":{"rendered":"
\n

China’s Huawei Technologies Ltd, the biggest global maker of network equipment for phone and internet companies, reported its 2018 sales surged past $100bn despite\u00a0US warnings to other governments that its telecom technology is a security risk.<\/span><\/p>\n

“Moving forward, we will do everything we can to shake off outside distractions, improve management and make progress towards our strategic goals,” rotating chairman Guo Ping said on Friday.<\/p>\n

Last year, global sales rose 19.5 percent over 2017 to 721.2 billion yuan ($105.2bn), according to Guo.<\/p>\n

Huawei said its net profit grew 25 percent last year amid a global US campaign to blacklist the\u00a0telecom giant<\/span> over espionage fears. Net profit rose to 59.3 billion yuan ($8.8bn) last year, the company said in a statement.<\/p>\n

However, the firm’s carrier business, which supplies telecom infrastructure to much of the world, slipped 1.3 percent during the year after a 2.5 percent expansion in 2017.<\/p>\n

Huawei is the leading manufacturer of equipment for next-generation 5G mobile networks that will bring near-instantaneous connectivity for smartphones, but has encountered pushback in some Western markets over fears Beijing could gain access to critical infrastructure.<\/p>\n

Market dominance\u00a0<\/span><\/h2>\n

Al Jazeera’s Adrian Brown, reporting from Beijing, said: “Huawei has been making money with the sales of their tablet and smartphones. They’ve been doing particularly well in the developing world”.<\/p>\n

“Consumers don’t have any\u00a0qualms\u00a0about using Huawei equipment, they don’t worry about that the Chinese government potentially using that equipment to spy on individuals and companies. Huawei denies all that.”<\/p>\n

The company is grappling with the December arrest<\/a> of chief financial officer Meng Wanzhou, daughter of company founder Ren Zhengfei.<\/p>\n

Meng was arrested in Canada<\/a> at Washington’s behest over charges that she and Huawei circumvented US sanctions against Iran.<\/p>\n

Two Huawei affiliates have also\u00a0<\/span>been charged this year with stealing trade secrets from telecom group T-Mobile in a separate case.<\/p>\n

Guo reiterated Huawei’s insistence that it poses no security risk while hinting that its market dominance left the company a crucial player in the global 5G rollout.<\/p>\n

“We are confident that the companies that choose to work with Huawei will be the most competitive in the 5G era,” he said.<\/p>\n

“Countries that choose to work with Huawei will gain an advantage for the next wave of growth in the digital economy.”<\/p>\n

Huawei hit back earlier this month by filing a suit in the US to overturn a law that bars its government agencies from buying the company’s equipment, services, or working with third parties that are Huawei customers, crippling the company in the lucrative US market.<\/p>\n

“The US government is sparing no effort to smear the company,” Guo said when announcing the suit.<\/p>\n

Washington has long considered Huawei a potential threat due to the background of founder Ren, a former Chinese army engineer.<\/p>\n

Those concerns have escalated as Huawei has risen to become the world leader in telecom networking equipment and one of the top smartphone manufacturers alongside Samsung and Apple.<\/p>\n<\/div>\n

\n

\n SOURCE:
\n Al Jazeera and news agencies<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

China’s Huawei Technologies Ltd, the biggest global maker of network equipment for phone and internet companies, reported its 2018 sales surged past $100bn despite\u00a0US warnings to other governments that its telecom technology is a security risk. “Moving forward, we will do everything we can to shake off outside distractions, improve management and make progress towards…<\/p>\n","protected":false},"author":10,"featured_media":37908,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-37907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle_east_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/37907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37907"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/37907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/37908"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}