Huawei Technologies has reported record profits and strong overseas growth for 2018 despite mounting pressure from the US for countries to ditch the Chinese telecoms company from their 5G networks.
On Friday the Shenzhen-based company reported that its calendar-year 2018 profits rose 25 per cent to Rmb59.3bn ($8.8bn). Revenues rose 19.5 per cent to a record Rmb721.2bn, buoyed by a 45 per cent jump in sales for its smartphone unit.
Huawei, which is privately owned, is under rising international pressure from the US and other countries concerned that its equipment could be used for spying by the Chinese government.
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