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Huawei's 2018 revenues reached a whopping $105 billion thanks to smartphones
Earlier today, HUAWEI announced its financial results for 2018. Thanks to a strong showing by the smartphone division, overall revenues grew 19.5 percent to reach $105 billion.
The jump in revenue comes despite strained relations with the US and increased scrutiny by governments all over the world. The company’s carrier division observed a 1.3 percent drop in revenues. Going into 2019, this division could find itself fighting an uphill battle amidst a tough political climate. Australia has already banned the use of HUAWEI’s 5G telecom equipment. Meanwhile, the US government is considering an outright ban over suspicions of a backdoor to Chinese government servers in the company’s network equipment.
The brightest spot in the company’s financials was definitely its smartphone division. Recording a huge 45 percent growth in revenue, the division reported revenues to the tune of $52 billion. This number, of course, includes contributions from the company’s HONOR sub-brand.
2018 saw the launch of devices like the HUAWEI Mate 20 Pro, P20 Pro and the HONOR View 20, all of which were well received in the market. The company has also doubled down on its expansion into markets like India.
Recently, HUAWEI’s rotating CEO Eric Xu claimed that constant media exposure thanks to comments made by the US government have helped the company stay in the limelight.