China’s Huawei profit up 25pc in 2018 despite US pressure

Shenzhen: China’s Huawei’s net profit grew 25 per cent last year, the telecom giant said on Friday, as it vowed to “shake off outside distractions” amid a global US campaign to blacklist the company over espionage fears. Net profit rose to 59.3 billion yuan ($8.8 billion) last year, the company said in a statement.
“Moving forward, we will do everything we can to shake off outside distractions, improve management and make progress towards our strategic goals,” rotating chairman Guo Ping said.
The company said overall revenue grew 19.5 per cent while its consumer business surged 45 per cent.
However the firm’s carrier business, which supplies telecom infrastructure to the much of the world, slipped 1.3 per cent during the year after a 2.5 per cent expansion in 2017. — AFP