March 28, 2019 - 7:21 PM
SHENZHEN, China - Chinese tech giant Huawei says its 2018 sales surged above $100 billion, though sales of network equipment were flat amid U.S. warnings to other governments that its telecom technology is a security risk.
Huawei Technologies Ltd. said Friday that sales rose 19.5 per cent over 2017 to 721.2 billion yuan ($105.2 billion). That was driven by double-digit gains for its consumer and enterprise units, while the company said sales to phone and internet carriers were unchanged at 294 billion yuan ($62.3 billion).
Huawei, the biggest global maker of switching gear used by phone and internet companies, denies U.S. accusations it facilitates Chinese spying.
U.S. pressure on American allies to shun Huawei threatens to hamper its access to markets as carriers prepare to invest billions of dollars in fifth-generation, or 5G, technology.
News from © The Associated Press, 2019