Huawei revenue goes past $100 billion in 2018
March 29, 2019 | Investopaper
Huawei has reported a 19.5 percent growth in its revenue for 2018. With this tremendous growth in sales, the Chinese telecommunication giant has surpassed $100 billion sales revenue for the first time in its history. The amount of revenue in 2018 was reported to be around $107.13 billion. Similarly, net profit increased by 25.1 percent.
The main cause for the growth in sales revenue of the company was its consumer business. The revenue for this division alone rose by 45.1 percent in 2018.
This came as a good news for the company shareholders as well as the company which has been facing huge political pressure. Huawei has been facing various charges from US which includes concerns over espionage possibility through its network gear although the company has denied the allegations.
