Friday, 17 August 2018

Huawei brushes aside security allegations as revenues surge by 15%

By Chris Kelly, Total Telecom
Tuesday 31 July 18

Huawei has posted a strong set of financials for the first half of 2018, despite enduring accusations that it posed a threat to the national security of the US and Australia

Huawei has announced a 15 per cent year on year growth in its revenues, as growth in its Carrier, Enterprise, Consumer and Cloud business units kept the Chinese tech giant on course for serious growth. Huawei's total revenues stood at 325…

Huawei has announced a 15 per cent year on year growth in its revenues, as growth in its Carrier, Enterprise, Consumer and Cloud business units kept the Chinese tech giant on course for serious growth.

Huawei's total revenues stood at 325.7 billion Yuan ($47.75 billion), up from 283 billion Yuan ($41.4 billion at today's exchange rate) for the first half of 2017.  

15 per cent year on year revenue growth would be considered extraordinary for any company operating in the tech and telecoms sectors today. However, when you consider the year that Huawei has had so far, that figure looks even more impressive. During the first half of 2018, Huawei has repeatedly had to defend itself against a series of tenuous and as yet unsubstantiated allegations that it presents a national security threat from the US and Australian governments.

Huawei also achieved an operating margin of 14 per cent for the first half of 2018.

"Huawei continues to boost the efficiency and quality of its operations, which has helped contribute to its solid performance. The company expects to maintain this momentum and round out the year in a strong financial position," the company said in a statement released to the press.

The company remains on course to ship 200 million handsets to the market in 2018, led by the success of its P20 Pro model which was launched this year in Asia and Europe.

Also in the news:  

Huawei calls for increased focus on academia as it recognises the 'father of 5G Polar Codes' 

Huawei and Audi join forces to accelerate smart car development 

Huawei: 5G will open up a word of possibilities 

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