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Huawei posts 39pc revenue growth in Q1 2019

23 April 2019

The US increasingly also is putting pressure on its allies, including Europe, New Zealand, Australia, and the United Kingdom, to ban Huawei products, with threats that it would be "difficult" for US to do business in countries that deployed Huawei equipment.

A source with the Central Intelligence Agency (CIA) of the US declares that the Chinese telecom Huawei is funded by the Chinese communist government and has been tasked with directives to serve state interests. As a result, it has continuously pressured allies to oust Huawei from the west, with Australia and America implementing nation-wide bans on the firm's 5G network and European countries still debating the issue.

The company is still struggling from cybersecurity allegations made by the US government which said Huawei's equipment contains backdoors that could lead to a national security risk. It's also facing charges of theft of trade secrets from US companies.

Huawei has repeatedly denied the allegations and launched an unprecedented media blitz by opening up its campus to journalists and making its typically low-key founder, Ren Zhengfei, available for media interviews.

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Chief Ciaran Martin of the National Cyber Security Centre, which is part of the UK's GCHQ intelligence agency, said earlier this year that he has not seen any evidence of spying.

However, the United Kingdom and Germany are open to using Huawei network equipment for their 5G networks.

The world's largest maker of telecommunications equipment reported revenue of 179.7bn yuan (£20.6bn) for the first three months of the year.

USA sanctions forced ZTE to stop most business between April and July previous year after Commerce Department officials said it broke a pact and was caught illegally shipping US -origin goods to Iran and North Korea.

Huawei posts 39pc revenue growth in Q1 2019