Huawei Forecasts 2018 Revenue to Jump 21 percent to $109 Billion

Huawei

Chinese tech giant Huawei Technologies projected a 21 percent leap in 2018 revenue to $109 billion, according to its rotating chairman Guo Ping, boasting a sharp acceleration in the business growth despite heightened global scrutiny as the company struggles to relieve rising concerns about the business and product security.

In New Year’s address to the employees, Mr. Ping had said that the company has signed around 26 5G contracts and expects its smartphone shipments to exceed 200 million units that will overtake Apple in the global rankings.

The chairman maintained a confident tone in year-end letter on Thursday and also vowed that the re-double Huawei’s efforts to take its place in the forefront of the 5G wireless revolution.

As reported in the Gadgets Now, China’s Huawei is the biggest telecom equipment maker and second largest smart phone seller in the world. This year, the company – with ambitions of leading the rollout of five-generation technology – came under international pressure when the US and allies New Zealand and Australia started barring its products on raising concerns about they could enable spying by the nation. To this, Huawei had repeatedly insisted Beijing has no influence over it.

Earlier this month, US charged Sabrina Meng, chief financial officer at Huawei of defrauding banks with Iran-related transactions. She was arrested and released on bail in Canada.

US President Donald Trump is considering an executive that would bar American companies from using telecommunications equipment developed by Huawei and ZTE Corp, Reuters reported, citing sources who asked not to be identified.

While Huawei and ZTE, China’s two largest telecom equipment makers declined to comment, Hua Chunying spokeswoman of foreign ministry responded to reports on Thursday by saying unnamed countries must provide facts to justify their concerns regarding cybersecurity.

Further, Mr. Ping warned that excluding Huawei’s product is simply omitting the best technology and barring it from participating in the market for 5G is like an NBA game with no all-stars. His note wrote, ‘You can’t play to the highest possible standards.

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Ganesh Rajput

Ganesh Rajput

As one of the efficient writer on Fact. MR, Ganesh holds experience in the field of the technology and science domains. He is more passionate about writing latest development in nanotechnology, virtual reality, cloud technology and connected device. Which also shines through in his articles on latest technology and science field. Ganesh’s interests lie in discovering the influence of the ever-changing nature of technology on several industries and the global economy.

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