Business
Huawei expecting to record a 21% jump in revenue for 2018 to $109 billion
Huawei Technologies, the world’s largest supplier of telecom equipment and the second-biggest smartphone maker, its technology touches virtually every corner of the world, and its massive R&D budget has made it a leader in 5G technology.
Huawei is expected to record a 21% jump in revenue for 2018 to $109 billion, according to the chairman, Guo Ping, marking the Huawei’s fastest pace of business growth in two years despite heightened global scrutiny of its activities.
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According to Reuters, Guo Ping, during his New year’s address to the company’s employees said that the company’s revenue will hit $109 billion this year, which is a 21% increase from the previous year and it will be the maximum growth rate the company has recorded in two years. This year 2018 will also make it the first time the company will record $100 billion increase in revenue.
The high growth is occurring despite warnings from the U.S. government to its allies not to use Huawei phones or network equipment.