Huawei achieves record-high revenue despite tensions with U.S.

A logo of Huawei hangs in the lobby of the Cyber Security Lab at Huawei factory in Dongguan China's Guangdong province

A logo of Huawei hangs in the lobby of the Cyber Security Lab at Huawei factory in Dongguan China's Guangdong province

The New York Times notes that the results put Huawei in the same league as Google and Microsoft, which both passed the $100 billion milestone a year ago.

Huawei's annual report, released at corporate headquarters in the southern city of Shenzhen, did not detail what caused the carrier business decline or make clear reference to the global pressure. Last year, the company's sales rose by 19.5 percent compared to 2017, to around $106 billion.

Its total revenue rose almost 20 percent to about 721 billion yuan, marking the fastest pace of growth in two years.

Australia and New Zealand have already barred Huawei from parts of their telecommunications networks, and the United Kingdom will make a decision within weeks.

China's largest tech company by sales posted net income of 59.3 billion yuan ($8.8 billion) in 2018 as it won customers for its smartphones and networking gear, according to a statement on Friday.

Huawei has announced record financial results for the past year.

Earlier this month, Huawei filed a lawsuit against the U.S. government, challenging the constitutionality of an American law that restricts the Chinese company from doing business in the country.

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Huawei has repeatedly denied allegations that it would be willing to spy on behalf of the Chinese government, and has said it takes privacy and security seriously.

China's Huawei's net profit grew 25 percent a year ago, the telecom giant said Friday, as it vowed to "shake off outside distractions" amid a global USA campaign to blacklist the company over espionage fears.

Huawei is pushing aggressively for leadership in 5G technology, at a time when countries around the world are looking to roll out these next-generation networks. Adding that "they want to smear Huawei because they can't compete".

But chairman Guo Ping said: 'The US Government has a loser's attitude.

The latest blow for the company came on Thursday when Britain rebuked it for failing to fix long-standing security flaws in its mobile network equipment and revealed new "significant technical issues".

Guo was referencing Washington's concerns that Huawei equipment could be used as a tool for the Chinese government to spy on American citizens.

Mr Guo said that as of last month, Huawei had signed more than 30 5G commercial contracts and shipped more than 40,000 5G base stations.

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