Huawei: Revenue breaks record in 2018 despite tensions with US
Updated 17:10, 01-Apr-2019
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Some good news for Chinese communications giant Huawei. Their sales and other numbers are growing. Despite some tension with the United States, the tech giant's revenue in 2018 hit a record of 106 billion US dollars. Huawei is filing legal action, and many are eager to see what happens next. CGTN's Li Jianhua visited Huawei's headquarters in Shenzhen.
Huawei, once again under the spotslight. This time, good news for the Chinese tech company, its revenue hit a new record.
GUO PING ROTATING CHAIRMAN OF HUAWEI "The sales revenue rounded off at 721 billion yuan last year, over 106 billion US dollars, up by 19.5 percent. The compound growth rate over the past five years hit 26 percent. Our net profit reached 59 billion yuan last year, increasing by 25 percent."
However, Huawei has been in a difficult position over the past couple of months. Its planned 5G network rollout is restricted by Washington, over concerns of the company's so-called ties with the Chinese government.
The tech giant's founder took exception to the US's decision in an interview with the BBC last month.
REN ZHENGFEI CEO AND FOUNDER, HUAWEI "I object to what the US has done. This kind of politically motivated act is not acceptable. The US likes to sanction others, whenever there's an issue, they'll use such methods. We object to this. But now that we've gone down this path, we'll let the courts settle it."
US authorities pledged to withhold intelligence from nations that continue to use Chinese telecom equipment, including Germany and the UK. But none have followed suit.
Huawei earlier this month brought legal action against the US government for unconstitutional sales restrictions imposed by Congress, but the procedure could take years.
CATHERINE CHEN CORPORTE SENIOR VICE PRESIDENT, HUAWEI "We once again make such a commitment. For any requirement for installing backdoors or collecting information for other countries from any government or organization will not be accepted by Huawei. I want to say that even the Chinese government wants to raise such a request. Huawei will reject it. And we'll not be held accountable or bear the legal consequences. The Criminal Law of China doesn't allow it to happen."
Chinese Premier Li Keqiang also weighed in on the issue that the Chinese Government is behind the company.
LI KEQIANG CHINESE PREMIER "You asked whether the Chinese government will ask Chinese companies to spy on other countries. I don't know if you are referring to the governments or individuals of other countries. But let me tell you explicitly that this is not consistent with Chinese law. This is not how China behaves. We didn't do that, and will not do that in the future."