Huawei posts USD 8.9 billion 2019 earnings
Huawei Technologies proved to remain strong in the business after posting higher earnings in 2019 despite its issues with the US government.
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| Huawei still profitable despite US issue |
Huawei maintains profitability amid US government's spying claims
The Chinese tech leader, which has been battling American government's spying allegations, posted 62.7 billion yuan or USD 8.9 billion net profit last year, 5.6 percent higher than a year earlier.
The group's carrier business, which covers its Fifth Generation (5G) mobile network equipment, also witnessed a slight growth of 3.5 percent in sales.
Huawei also saw its revenues jumped by 19 percent to 858.8 billion yuan driven by the strong performance of its consumer business, including smartphones.
China's market continued to be its main growth driver, while Europe and Middle East sales grew by only 0.7 percent.
The company was also the top player in the smartphone market in China, securing 38.5 percent share of the market in 2019, up from 27 percent a year ago.
Its chairman Eric Xu, subsequently, hit back to the Trump administration, raising a question that if Huawei's 5G technology really poses a threat to the nation, the government should also ban the use of 5G chips, smartphones, and other smart devices developed by American firms.
The Chinese government will not just stand by and watch Huawei be slaughtered on the chopping board, Xu added.
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