Huawei Posts Record Smartphone Sales Despite US Pressure

30 March, 2019, 14:34 | Author: Gerard Cortez
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Canada detained Chief Financial Officer Meng Wanzhou last December at the behest of the US Meng, also Huawei-founder Ren Zhengfei's eldest daughter, faces potential extradition on alleged bank fraud linked to US sanctions against Iran.

Through HCSEC's Oversight Board, which was established in 2014, the United Kingdom government is informed about Huawei's product strategies and roadmap, and it also allows the government to evaluate the security of Huawei's hardware.

Huawei has vowed to never allow security "backdoors" in its products which could be used for espionage or sabotage, and insists Washington has never produced evidence substantiating claims of security risks.

Last year, after initially trying to downplay the security concerns from various governments, Huawei committed to investing $2 billion to address long-time concerns that the HCSEC Oversight Board had about Huawei telecommunications hardware.

Huawei's revenue of the carrier business reached 294 billion yuan, which is roughly the same as the previous year, but the company's revenue at its consumer business surged 45 percent to 348.9 billion yuan.

Chinese telecommunications tycoon Huawei on Friday posted a net profit rise in 2018 of 25.1 percent year-on-year to the tune of 59.3 billion yuan, with sales revenue standing at 721.2 billion, up 19.5 percent, boosted by strong sales of smartphones worldwide. "They are more willing to buy Huawei products", he said.

Earlier this month, Premier Li Keqiang promised at a nationally televised news conference that Beijing never would tell Chinese tech companies to spy on foreign countries.

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The board uncovered a number in vulnerabilities in Huawei's networking equipment.

A top company executive said earlier this week that the USA campaign against Huawei was having little impact on its sales and that it was unlikely many countries would heed the US call to ban its gear. Huawei enterprise services contributed 10 percent of the company's revenue in 2018, posting 74 billion yuan, an increase of 24 percent year-on-year.

Mr Guo blamed weak network gear sales on a temporary lull in investment by carriers.

"The future of telecom industry lies in the opportunities that 5G and future generations of technologies can provide to other industries". "It wants to smear Huawei because it can not compete against Huawei", Guo Ping, rotating chairman of the world's top producer of telecoms equipment and No.3 maker of smartphones, said on Friday.

That there remains no end-to-end integrity of the products as delivered by Huawei and limited confidence on Huawei's ability to understand the content of any given build and its ability to perform true root cause analysis of identified issues. It has launched a more aggressive strategy in recent months to counter what it sees as an American "smear" campaign. Huawei has recently set up other cybersecurity labs in Germany and Belgium, but those only give access to network operators, not intelligence agencies.

He said Huawei signed more than 30 commercial contracts for 5G in 2018 and shipped more than 40,000 5G base stations to markets around the world.

The company says the concerns are unfounded.

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