Huawei Technologies published the 2018 financial reports and revealed a spectacular revenue growth of 19.5% compared to 2017. The company’s revenue from smartphone sales increased by 25.1% compared to the previous year. The report states that Huawei’s revenues in 2018 reached 107.13 billion dollars. This is the first time that Huawei has arrived, but has also surpassed $ 100 billion in annual turnover.
Also, the report reports a significant improvement in profits compared to 2017. Huawei reports an increase in net profits of 28%, which translates to $ 8.8 billion for 2018. By contrast, in 2017 the company saw an increase only 0.4% of net earnings. From what they all look like, last year was particularly lucrative for the Chinese company.
Despite success, Huawei is currently under intense pressure because governments are concerned about data security. In particular, multi-nation government bodies, particularly the US, have banned the use of Huawei’s hardware and network infrastructure, a sector in which Huawei has been active for years.
In early March, Huawei held a public event in which it prosecuted the US government for the exclusion of its technology components from the market and the “deterioration of its reputation”, according to Huawei, the US did without any proof in their hands.
In 2016, Huawei set the ambitious goal of becoming the number one global smartphone maker by the year 2021. In July 2018, Huawei ranked second in smartphone markets and second in market share, with Samsung on first place and Apple in third. At this rate, we do not doubt that Huawei can become the world’s leading smartphone manufacturer. It seems that all political turbulence is not going to stop Huawei’s goal.