Huawei Revenues Topped $100 Despite US-led Campaign Against Them

Chinese telecoms giant Huawei said that revenue for 2018 topped $100bn despite US-led campaign against its business.

According to the Shenzhen-based firm, Huawei last year's revenue hit 721.2bn yuan ($107bn), while net profit jumped 25% to 59.3bn yuan. The company said that global revenue surged 19.5% in 2018, its fastest pace of growth in two years. The result was supported by strong sales of smartphones in China. At the same time its carrier business, which sells telecoms infrastructure to countries around the world, eased 1.3%.

Huawei have had to deal with a lot of issues since last year that threatened its business. The tech company have been accused of having ties to the Beijing government which raised concerns over the security of its products. So for security reasons, the US, Australia and New Zealand have all restricted companies in their countries from using Huawei to provide the technology for their 5G networks. And several other European telecoms operators, including the UK, are considering removing Huawei equipment from their network.

Huawei, however, have denied all the accusations, arguing that it is independent. It claims it is just an American "smear" campaign to ruin its business.
To counter the attacks, Huawei filed a lawsuit against the US government over a ban that restricts federal agencies from using its products, arguing it is "unconstitutional."