Huawei posts 39% revenue growth in Q1 2019

Huawei posts 39% revenue growth in Q1 2019

Huawei posts 39% revenue growth in Q1 2019

However, some glitches are there.

The limited results announcement comes at a time when Washington has intensified a campaign against the Shenzhen-based firm, alleging its equipment could be used for espionage and urging USA allies to ban it from building next-generation 5G mobile networks.

Huawei said it aims to boost income further in 2019 on the back of a widespread roll-out of 5G networks around the world.

In fact, the Wall Street Journal reported in January that USA officials do not believe they need to provide "proof" of espionage on the basis that China's Communist government can simply order it to work with security services at any time.

This is something that Huawei has fiercely denied. It picked Seoul to establish its first global 5G research and development center because Korea is the world's first country to commercialize 5G connectivity, the company said. The company operates in more than 170 countries and regions with more than 180,000 employees.

Mr Guo Ping, rotating chairman of the company, has said he expects all three business groups - consumer, carrier and enterprise - to post double-digit growth this year.

Meanwhile, the U.S campaign against Huawei also shows no sign of abatement. The Times wrote that the Central Intelligence Agency "awarded a strong but not iron-cast classification of certainty" to its findings, adding that a separate USA government source affirmed that the feds believe the Chinese ministry of state security approved funding for Huawei.

A USA source also told the newspaper that American agencies believed that China's primary intelligence and espionage organization, the Chinese ministry of state security, approved government funding for Huawei.

In January, the US Justice Department unsealed indictments that included 23 counts pertaining to the theft of intellectual property, obstruction of justice and fraud related to its alleged evasion of US sanctions against Iran. The Huawei Technologies Co. logo is displayed at the Huawei headquarters on March 29, 2019, in Shenzhen, China. In fact, in Q1, the company says it shipped a massive 59 million smartphone units.

"Although we have seen fast growth for Huawei phones in all major markets, the first-quarter growth is still beyond our expectations". At this rate, Huawei will overtake Apple in terms of smartphone shipments this year and will vey almost catch up to Samsung by the end of the year.

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