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Huawei made a record $108.5 billion in 2018

03/01/2019
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Chinese telecoms company Huawei have started the year on a high note by revealing record revenues for 2018.

Huawei’s rotating Chairman Guo Ping delivered a new year message for the company that reveals a record sales revenue of $108.5 billion in 2018.

Despite a punishing year for the Shenzen-based company that saw legal troubles and threats of boycotts from the US, this has remained a financially successful 12 months and the message strikes a tone of optimism and resilience.

“It has been an eventful year, to say the least. But we have never stopped pushing forward, and as a result our 2018 sales revenue is expected to reach 108.5 billion US dollars, up 21% year-on-year.”

These record revenues accompany 26 signed 5G commercial contracts with telcos, over 10,000 5G base stations shipped, digital transformation contracts with 160 cities and 211 Fortune Global 500 companies, and more than 200 million smartphones shipped worldwide.

With several contracts already secured for the upcoming months, Huawei’s shareholders, workers and customers will at least be able to rely on this strong financial news in the midst of ongoing publicity issues.

In the meantime, the company will be aiming to make the most of their current business while re-evaluating their opportunities for the future. While avoiding financial predictions for the upcoming year, Ping’s message highlighted the company’s plans for change:

“In 2019, we will focus on strategic businesses and strategic opportunities and build a more resilient business structure. We will continue to optimize our product investment portfolio to achieve end-to-end strategic leadership. As part of this we need to retain products that are competitive and appealing and phase out those that aren’t.”

Huawei has already made promises to be more secure, more transparent and more innovative than its competitors and itself. With record revenues holding it up against the publicity storm, things may not be looking as dark for Huawei as they previously appeared.

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