Huawei expects to end the year with revenue jump

HONG Kong: Huawei Technologies is expected to record a 21 per cent jump in revenue for 2018 to US$109 billion (K354bil), its rotating chairman said, marking the Chinese tech giant’s fastest pace of business growth in two years despite heightened global scrutiny of its activities.
In his new year’s address to employees, Guo Ping also said Huawei has secured 26 5G contracts and expects its smartphone shipments for 2018 to surpass 200 million units.
The company flagged earlier this month that annual revenue is expected to exceed US$100 billion (K328bil) for the first time and that it had secured more than 25 commercial 5G contracts, making it the largest 5G vendor in the world.
In August, Huawei forecast smartphone shipments exceeding 200 million for the year.
Huawei is the world’s largest telecom equipment maker and the second largest smartphone seller.
It has come under international pressure this year after the United States and its allies including Australia and New Zealand started barring its equipment on concerns they could enable spying by China.
Huawei has repeatedly insisted Beijing has no influence over it. – CNA