Huawei's Revenues Top $100 Billion Despite US Fight

Huawei's Revenues Top $100 Billion Despite US Fight

British government report issued on Thursday detailing security risks posed by Chinese firm Huawei confirms USA government warnings of security risks associated with the telecom giant, according to a United States official.

The report, issued by the National Cyber Security Centre, said it can provide "only limited assurance that the long-term security risks can be managed in the Huawei equipment now deployed in the UK".

Guo didn't respond directly to the British report's criticisms but said Huawei will work with regulators to improve security. Last year, the company's sales rose by 19.5 percent compared to 2017, to around $106 billion.

"Cybersecurity and user privacy protection are at the absolute top of our agenda", said Guo Ping, Huawei's rotating chairman, in a prepared statement. "As long as the Chinese company maintains its technological edge, more countries will embrace Huawei's products", Xiang said.

Huawei is, along with Sweden's LM Ericsson and Nokia Corp. of Finland, a global leader in developing fifth-generation, or 5G, telecoms. According to the chairman, they are aware that the actions taken by the USA have certainly troubled the company, but it's up to customers to decide whether or not to buy its phones and networking equipment.

The Chinese technology giant filed a lawsuit claiming that the USA government is overstepping by barring Huawei from competing to supply equipment to certain federal agencies. -Chinese tensions over technology and accusations of cyber-spying and violating trade sanctions on Iran. Canada detained chief financial officer Meng Wanzhou last December at the behest of the US.

Despite the legitimate security concerns and the relentless push of the US, Huawei achieved all-time record revenue of apx. Huawei is in a battle with Apple to be the world's second-largest smartphone company behind Samsung. Unverified talk that its products contain back doors ready to be a conduit for secret information sent to Beijing, and watching as US officials try to get allies not to use its 5G networking equipment has Huawei executives ready to fight. Carriers complain that would reduce competition, raise prices and delay the rollout of 5G service. In its enterprise business, Huawei continued providing cloud, big data, artificial intelligence (AI), and IoT solutions, as well as a range of products for data centers, all-flash storage, and WiFi.

"We are confident that the companies that choose to work with Huawei will be the most competitive in the 5G era", he said. "They do not discriminate against vendors from any country".

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The UK, however, could be moving closer to the USA position on the Chinese tech company.

Earlier this month, Premier Li Keqiang promised at a nationally televised news conference that Beijing never would tell Chinese tech companies to spy on foreign countries.

"The U.S. government has a loser's attitude".

Huawei sold over 200 million smartphones in 2018, boosting revenue in the company's consumer business to about 349 billion yuan ($51.8 billion) - an increase of more than 45 per cent.

Guo blamed weak network gear sales on a temporary lull in investment by carriers. Huawei denies that any of its products pose a national security.

He said Huawei signed more than 30 commercial contracts for 5G in 2018 and shipped more than 40,000 5G base stations to markets around the world. The company says that improperly punishes the company without giving it away to defend itself.

If Guo is trying to win over USA officials, he is going about it the wrong way.