Get more Mail & Guardian
Subscribe or Login

Huawei expects 21% revenue rise despite ‘unfair’ treatment

Chinese telecoms giant Huawei expects to see a 21% rise in revenue for 2018, its chairman said on Thursday despite a year of “unfair treatment” which saw its products banned in several countries over security concerns.

Huawei would report sales revenue of $108.5-billion, up 21% year-on-year, rotating chairman Guo Ping said in a New Year message to staff.

Guo also said the firm had signed 26 commercial contracts for its 5G technology despite what he described as a year of “incredibly unfair treatment”.

“Huawei has never and will never present a security threat,” Guo wrote in the message titled “Fire is the Test of Gold”.

“Setbacks will only makes us more courageous, and incredibly unfair treatment will drive us to become the world’s number one,” he added.

The company has been under fire this year, with Washington leading efforts to blacklist Huawei internationally.

A top Huawei executive was also arrested in Canada earlier this month at the request of the US, which is engaged in a bruising trade war with China.

This month, Britain’s largest mobile provider BT announced it was removing Huawei equipment from its 4G cellular network after the foreign intelligence service singled out the company as a security risk.

In November, New Zealand’s intelligence agency barred Huawei equipment in the rollout of the country’s 5G network on the same grounds.

Australia and the United States also enacted similar bans earlier this year, leaving Canada the only country in the “Five Eyes” intelligence network not to take steps against the Chinese firm.

Huawei founder Ren is a former People’s Liberation Army engineer and there are concerns of close links with the Chinese military and government, which the firm has constantly denied.

Last week, the Chinese tech firm sought to dispel the fears around its technology by taking the unprecedented step of opening its research and development labs to media.

“Banning a particular company cannot resolve cybersecurity concerns,” Huawei’s rotating chairman Ken Hu told reporters.

“Huawei’s record is clean.”

Meanwhile, chief financial officer Meng Wanzhou, who was arrested on December 1, is fighting extradition to the US where she faces charges of violating Iranian trade-related sanctions.

She has been released on bail and is now living under electronic surveillance in a luxury home in Vancouver.

READ MORE: Huawei defends global ambitions amid Western security fears

Following her arrest, two Canadians were detained in China on grounds of national security in what has largely been seen as retaliation for Meng’s case.

© Agence France-Presse

Subscribe for R500/year

Thanks for enjoying the Mail & Guardian, we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

Digital subscribers get access to all of our award-winning journalism, including premium features, as well as exclusive events, newsletters, webinars and the cryptic crossword. Click here to find out how to join them and get a 57% discount in your first year.

Agency
External source

Related stories

WELCOME TO YOUR M&G

If you’re reading this, you clearly have great taste

If you haven’t already, you can subscribe to the Mail & Guardian for less than the cost of a cup of coffee a week, and get more great reads.

Already a subscriber? Sign in here

Advertising

Subscribers only

Local elections: Water tops the agenda in Limpopo’s dry villages

People in the Fetakgomo Tubatse local municipality, who have to collect water from Motse River, are backing independent candidates because they’re tired of parties’ election promises

Careers the Zondo state capture inquiry has ended (or not)

From Vincent Smith to Gwede Mantashe, those named and shamed have met with differing fates

More top stories

Nigeria’s palm wine tappers face stiff competition

Large companies such as International Breweries and Nigerian Breweries are vying for the population’s drinking money

Covid-19 border closures hit Zimbabwe’s women traders hard

The past 18 months have been tough for women cross-border traders, who saw their income vanish when borders closed

Local elections: Water tops the agenda in Limpopo’s dry villages

People in the Fetakgomo Tubatse local municipality, who have to collect water from Motse River, are backing independent candidates because they’re tired of parties’ election promises

A bigger slice of the pie: Retailers find ways to...

The South African informal economy market is much sought-after, with the big, formal-sector supermarkets all looking to grow their share
Advertising

press releases

Loading latest Press Releases…
×