This is the first time the company's revenue has crossed the US$100 billion mark. (The yuan figure has been converted to US dollars using the closing rate at the end of 2018, US$1.00 = CNY 6.8561.)
The company reported net profit of 59.3 billion yuan, 25.1% higher than for the previous year, a statement said.
The company's carrier business brought in 294 billion yuan during the year, slightly down on the 297.8 billion yuan reported for 2017.
Huawei said it had launched the first full range of 5G end-to-end commercial products during the year, and conducted 5G tests with 182 carriers. It also said it signed more than 30 commercial 5G contracts and shipped more than 40,000 5G base stations.
Additionally, the company said it had shipped 53 NB-IoT networks and 16 eMTC networks, supporting millions of connections.
The company has faced pressure in its bid to obtain 5G contracts around the world, with the US leading a campaign claiming that the company could be forced to spy on other countries on behalf of Beijing.
Huawei has strongly denied this. The current chairman, Guo Ping, made reference to the American manoeuvres, saying, "The easiest way to bring down a fortress is to attack it from within and the easiest way to reinforce it is from outside.
"Moving forward, we will do everything we can to shake off outside distractions, improve management, and make progress towards our strategic goals."