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Tuesday, Sep 17, 2019

What controversy? Huawei is making billions

Huawei surpassed the $100 billion yearly revenue mark.

tech Updated: Mar 30, 2019 17:14 IST
Asian News International
Asian News International
Shenzhen, China
A man walks by a Huawei logo at a shopping mall in Shanghai, China December 6, 2018. REUTERS/Aly Song - RC12F87513A0
A man walks by a Huawei logo at a shopping mall in Shanghai, China December 6, 2018. REUTERS/Aly Song - RC12F87513A0(REUTERS)
         

Huawei may seem like a troubled company on the outside but have a look at its latest financial results and it is anything but thriving.

China-based telecom equipment manufacturer posted $107.4 billion in revenue in 2018, a 19.5 percent growth as compared to the previous year.

As Mashable reports, for the first time, Huawei surpassed the $100 billion yearly revenue mark. Net profit recorded at $8.8 billion, a 25.1% year-on-year increase.

Huawei is in a continued battle with the US government over spying concerns. The company’s CFO is under house arrest over fraud allegations, and a damaging report issued by the UK government has claimed that the company’s software is buggy and insecure.

Despite all this, Huawei managed to sell more than 200 million phones in 2018, and ended the year as the third largest smartphone maker by shipment, after Samsung, and Apple.

First Published: Mar 30, 2019 17:14 IST