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HUAWEI exec thanks US for 'advertisements,' announces huge company growth
- At a press conference in China, HUAWEI CEO Eric Xu joked that the U.S. is responsible for promoting HUAWEI over the past year.
- The U.S. is trying to convince other countries to not use HUAWEI equipment, with only one country so far following through.
- Xu also revealed massive company growth so far this year and is expected to reveal similar growth for 2018 on Friday.
At a recent press conference in China, via Reuters, HUAWEI rotating CEO Eric Xu, pictured above, revealed that the company is doing incredibly well financially so far this year, despite attempts by the United States to encourage other countries to institute bans of Huawei equipment.
What’s more, Xu also made a joke at the expense of the U.S.: “The United States should take quite a lot of the credit for making advertisements for HUAWEI,” he said.
Xu’s joke refers to the United States government’s repeated attempts to sway other countries from using HUAWEI equipment. These attempts, combined with criminal investigations against the company, have kept HUAWEI in the news more than ever over the past year. Even though U.S. citizens can’t buy HUAWEI smartphones in their home country, it’s a safe bet that they’ve learned more about HUAWEI this year than in any year prior.
Prior to the joke, Xu talked seriously about HUAWEI’s staggering growth. According to Xu, Huawei’s revenue jumped 36 percent over the first two months of 2019 and was set for a 15 percent annual spike to $125 billion.
On Friday, HUAWEI will hold one of the largest press conferences in its history to give detailed financial reports for 2018. Based on Xu’s comments, the 2018 report is expected to show the company is only getting bigger and more successful.
The United States should take quite a lot of the credit for making advertisements for HUAWEI.Eric Xu, HUAWEI CEO
This growth and success happening despite the objections of the United States is further proof that HUAWEI is a telecom juggernaut.
So far, only Australia has joined the U.S. when it comes to banning HUAWEI equipment. However, in Australia’s case, it is only partially banning HUAWEI, while the U.S. has a full ban in place. No other countries have committed to full or partial HUAWEI bans, and Xu says he doesn’t expect any others will.
“Recently, we are seeing a large number of countries making their own decisions,” Xu said.
Xu also said that he doesn’t expect the U.S. to attempt to ban the distribution of U.S. products to HUAWEI. A ban like that befell HUAWEI competitor ZTE last year and nearly destroyed the entire business. However, President Donald Trump stepped in at the last minute and lifted the ban, saving ZTE.