China's Huawei says 1Q sales up 39%

FILE - In this March 26, 2019, file photo, Huawei CEO Richard Yu stands during the presentation of the new Huawei P30 smartphone, in Paris. Chinese tech giant Huawei said Monday, April 22, 2019, its revenue rose 39 percent over a year earlier in the latest quarter despite U.S. pressure on allies to shun its telecom and network technology as a security risk. (AP Photo/Thibault Camus, File)
FILE - In this March 29, 2019, file photo, Huawei's mobile phones are displayed at a telecoms service shop in Hong Kong. Chinese tech giant Huawei said Monday, April 22, 2019, its revenue rose 39 percent over a year earlier in the latest quarter despite U.S. pressure on allies to shun its telecom and network technology as a security risk. (AP Photo/Kin Cheung, File)

BEIJING — Chinese tech giant Huawei said Monday its revenue rose 39% over a year earlier in the latest quarter despite U.S. pressure on allies to shun its telecom technology as a security risk.

Huawei, the biggest global maker of network equipment for phone and internet companies, on Monday reported revenue of 179.7 billion yuan ($26.8 billion) for the first three months of the year.

Washington's pressure on allies to avoid Huawei, China's first global tech brand, threatens to block access to Europe and other markets as carriers prepare to invest billions of dollars in next-generation technology.

The company denies U.S. accusations it facilitates Chinese spying.

Huawei, founded by a former Chinese military engineer in 1987, is privately held but reports financial results to try to defuse Western security concerns.

Huawei gave no quarterly earnings but said its profit margin was 8%. That would be about 14.4 billion yuan ($2.1 billion).

The revenue growth reported Monday was higher than the 19.5% gain reported earlier for 2018 annual revenue. The company earlier reported annual sales of 721.2 billion ($105.2 billion).

You may also interested in

China imports grow in August for 1st time in 2...

Sep 8, 2016

China trade showed unexpected strength in August in a positive sign for global economic growth

China says it can't end North Korea nuke program...

Sep 12, 2016

China says the United States has inflamed the conflict on the Korean Peninsula and must carry the...

Asian shares mixed as investors consider latest...

Jan 5, 2017

Asian stock indexes mixed as investors assess latest Fed meeting minutes; Japan shares slip as yen...

Choked by smog, Beijing creates new environmental...

Jan 8, 2017

Officials in Beijing have announced a new environmental police squad to root out illegal burning in...

China auto market has bumper year but 2017...

Jan 12, 2017

Industry figures show China's auto market had a bumper year in 2016 as sales grew by 15 percent,...

About Us

Frontal Report is an emerging leader in all forms of media. We aim to be the leading news brand for readers around the world.

Contact us: sales[at]frontalreport.com

Subscribe Now!