Huawei profit up 25%
April 1, 2019
Despite ongoing security concerns Huawei maintained strong business growth in 2018, with net profit reaching €7.86 billion, up 25 per cent year-on-year.
Huawei’s 2018 numbers reveal Huawei sales for 2018 closed at €95.65 billion, up 19.5 per cent on the previous year. The main growth came from the company’s consumer smartphone business, with sales reaching €46.27 billion, up 45.1 per cent year-on-year. Huawei’s enterprise business was up 23.8 per cent to €9.87 billion.
However, carrier business didn’t fare so well, with sales revenue at €39 billion, falling 1.3 per cent.
Guo Ping, Huawei’s Rotating Chairman, said, “Information communications technology is rapidly working its way into every industry. This has triggered a digital, intelligent transformation – the driving force behind our digital economy. Through heavy, consistent investment in 5G innovation, alongside large-scale commercial deployment, Huawei is committed to building the world’s best network connections. Throughout this process, Huawei will continue to strictly comply with all relevant standards to build secure, trustworthy, and high-quality products.
“As we work towards this goal, we have been explicitly clear: Cybersecurity and user privacy protection are at the absolute top of our agenda. We are confident that the companies that choose to work with Huawei will be the most competitive in the 5G era. And countries that choose to work with Huawei will gain an advantage for the next wave of growth in the digital economy.”