Huawei vows to ‘shake off’ pressure; earns $8.8 billion

Published March 29, 2019, 12:00 AM

by manilabulletin_admin

SHENZHEN, China (AFP) – Chinese telecom giant Huawei vowed on Friday to ”shake off outside distractions” as it announced that its telecom infrastructure business contracted slightly in 2018 amid a global US campaign to blacklist the company over espionage fears.

Huawei said net profit rose to 59.3 billion yuan ($8.8 billion) last year, up 25 percent.

But its carrier business, which supplies telecom infrastructure to much of the world, posted a rare decline, suggesting that the US pressure could be having an impact.

The company’s carrier business was down 1.3 percent on the year, compared to growth of 2.5 percent in 2017 and annual increases typically in excess of 20 percent in years past.

 
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