Huawei Recorded a 25% Rise in its Revenue Despite US Efforts to Curb its Business

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Huawei has just revealed its last year’s revenue and with that, it has entered the same league as Google and Microsoft, surpassing the $100 billion milestone. The two companies had reported a revenue of over $100 last year and with a 20 per cent annual rise in the profits, Huawei has also entered the multinational technology companies in the US$100 billion club.

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Image Source: news.cgtn

Although Huawei has been facing some issues in running the business in the other countries, and came under siege by the US government for the functioning of its 5G network in the country last year, the recorded revenue shows that if the company would be functioning fully in the US, it would have earned much more profits.

Huawei is the third largest smartphone maker, and most of the revenue it earned was from its smartphone sales. The smartphone division of the company has made a 45 per cent of share in the profits. The company is also the biggest telecommunications equipment seller in the world, and this very division contributed almost 50 per cent in the profits.

Although the contribution of the carrier technology division of Huawei fell by a 1.3 per cent and contributed the least, this is considered as an effect of the US opposing other countries use the Huawei equipment in their telecommunications networks.

Along with the US, Australia has already banned the use of Huawei equipment. And, due to the Huawei’s cybersecurity practices, UK and EU are also considering banning the use of the company’s equipment in next-generation networks.

The company is blamed for spying for the Chinese government by the US government, which the company has been denying saying that its products are no threat to the national security of other countries. Still, the company has confirmed that it has signed a few contracts for its 5G networks in Europe, the Middle East, and Asia-Pacific.

The recorded revenue shows the fastest growth of the company in the last two years, and with the new contracts, the company may see some more growth in the coming future.