Huawei’s 2018 net profit rises 25%, amid security allegations
Technology company Huawei has reported a 25% increase in 2018 net profit, despite US calls to ban its technology
Huawei saw a net profit of 59.3 billion yuan in 2018, comparing to a 28% rise in 2017 and a rebound from a 0.4% increase in 2016.
Huawei, saw its consumer business sales hit a record 348.9 billion yuan ($52 billion) in 2018, motivated by its P series and Mate series.
Huawei’s revenue growth
Huawei's revenue grew 19.5% to 721.2-billion-yuan last year, in line with estimations. This marked progressive growth for the company, despite on-going scrutiny.
The company expects revenue to jump to $125 billion in 2019.
US accusations cloud outlook
Huawei faces US accusations which could overshadow their positive result 2018 results.
It comes after the US accused Huawei of spying for the Chinese government, using their telecoms network equipment.
There have also been calls from Washington to ban Huawei from building next-generation mobile networks.
Huawei has said denied these claims, and siad it was not at all influenced by Beijing.
Huawei to "shake off" outside distractions
However, earlier this week a senior company executive said that the US campaign against Huawei was having little impact on the company's sales. He also claimed that it was not likely that other countries would ban Huawei technologies from being sold.
The company’s rotating chairman Guo Ping said, ‘The easiest way to bring down a fortress is to attack it from within. And the easiest way to reinforce it is from outside.’ He said on Friday.
Ping said that the company would do everything it could to “shake off outside distractions, management and make progress towards our strategic goals," to move forward
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
