Huawei Profits Soar in 2018; Chairman Tells Washington To "Drop Its Loser Attitude"

Zero Hedge | 3/28/2019 | Staff
Frost123 (Posted by) Level 3
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When it first launched its global lobbying campaign to shut Chinese telecoms giant Huawei out of the West, Washington was probably, in retrospect, feeling a little overconfident. After a ban on selling American-made components to ZTE (another Chinese telecoms giant) nearly precipitated the company's collapse, a coordinated smear campaign - including the arrest of one of the company's top executives, a pair of criminal indictments, and a ban on selling its products in the US - designed to weaken Huawei's 5G leadership should at least have curbed the company's torrid revenue and profit growth.

Unfortunately for rival US telecoms giants, America couldn't have been more wrong, as the Wall Street Journal pointed out.

Huawei - Company - Habit - Earnings - Figures

Though Huawei is a privately held company, it has made a habit of releasing earnings figures. And the numbers from 2018 are simply staggering. Despite being effectively shut out of the US and several of its allies in the "Five Eyes" intelligence alliance (Australia and New Zealand), Huawe's revenue for 2018 rose 20% to 721.2 billion yuan ($107 billion) from 603.6 billion yuan a year earlier. Meanwhile, net income for 2018 rose 25% to 59.3 billion yuan.

Heaping more embarrassment on the US, the EU, one of Washington's staunchest "allies", earlier this week refused to call...
(Excerpt) Read more at: Zero Hedge
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