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Huawei tops $100 billion revenue for first time despite political headwinds

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Guo Ping


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the United Kingdom

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The government-led oversight board said it found "concerning issues in Huawei's approach to software development bringing significantly increased risk to U.K. operators."It concluded that it will be difficult to appropriately risk-manage future products" from Huawei, but stopped short in calling for an outright ban."We understand these concerns and take them very seriously," Huawei said in a statement on Thursday, adding that it will continue to work with the U.K. government in addressing the issues raised.Huawei has tried to counter the negative news toward the company through a public relations push as well as a legal offensive.Earlier this month, Huawei filed a lawsuit against the U.S. over a law that bans government agencies from buying the Chinese technology giant's equipment, claiming the legislation is unconstitutional.Guo Ping, one of the rotating chairman at Huawei, said in a press release on Friday that "cyber security and user privacy protection are at the absolute top" of the company's agenda.Responding to a CNBC question on guidance for 2019, Guo said that revenue grew 30 percent year-on-year in January and February combined.He also said he expects double-digit growth for this year, despite the various headwinds."With the 5G investments made by the carriers this year, and industry digitalization opportunities and growing consumer demand, Huawei will still enjoy double digit growth in this year," Guo said in Mandarin, which was translated into English by an official translator."Moving forward, we will do everything we can to shake off outside distractions, improve management, and make progress towards our strategic goals," Guo said in his press release.

As said here by Arjun Kharpal