Monday, 01 April 2019 06:16

Huawei crossed US$100b revenue for first time in 2018 Featured

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Huawei crossed US$100b revenue for first time in 2018 Pixabay

Chinese telecommunications equipment vendor Huawei Technologies has reported revenue of 721.2 billion yuan (US$105.2 billion) for the fiscal year 2018, a rise of 19.5% year-on-year, with the growth mainly attributable to its consumer business.

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.

But the consumer business increased sales by 45.1% year-on-year to reach 348.9 billion yuan, marking the first time that this division contributed the biggest share of revenue. During the year, Huawei's smartphones overtook Apple to take second spot in global market share behind Samsung.

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."

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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