Huawei’s Growth Accelerates Despite US Threats

Tuesday, March 19, 2019

Huawei’s Growth Accelerates Despite US Threats

Huawei’s Growth Accelerates Despite US Threats

Ren Zhengfei, Huawei founder and CEO

 

 

Huawei defied increasing US scrutiny and bans on its equipment in some countries by recording higher than forecasted revenue growth in the first two months of the year.

 

Ren Zhengfei, Huawei founder and CEO, said during a speech in Moscow that sales in January and February increased 35.8 per cent from the same period in 2018.

 

The speech was published on the company’s internal forum and shared with Mobile World Live.

 

He noted that the strong growth “is a testimony of everyone’s efforts…The company is more united…and not afraid of difficulties.”

 

The company’s revenue in 2018 increased 21 per cent year-on-year to $108.5 billion and is forecast to rise 15 per cent in 2019, which would be the same rate as in 2017.

 

A month ago, Huawei said it had signed more than 30 5G contracts and shipped more than 40,000 compatible base stations. A representative said there was no update on those figures.

 

Huawei recently stepped up its efforts in the US to fight bans on its equipment, last week filing a motion for the Federal Communications Commission to drop a proposed rule which would block operators from using government funds to buy its equipment.

 

Earlier in the month, the company filed a lawsuit in a US federal court, challenging a ban on government agencies using its gear and seeking a permanent injunction against the restriction.

 

 

 

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