Huawei Slams US ‘Loser Attitude’ Amid Strong Results

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Chairman of Chinese firm has harsh words for US administration and its campaign against it

The chairman of Huawei Technologies has angrily hit out at the US administration and its campaign to stop allies from using equipment from the Chinese giant for their 5G networks.

The comments came when Huawei shrugged out the US campaign against it by posting strong financial results with a 20 percent growth in revenue to $107 billion. However that was helped by strong smartphone sales, despite a decline in its networking business.

Huawei is fighting against US accussations that its equipment could be used for spying by the Chinese state. Earlier this week Huawei suffered what could be a significant setback when a British government report slammed the firm for its inability to deal with longstanding “underlying defects” that affected its security.

Huawei

Loser attitude

Huawei posted a rise in its annual profits thanks to record sales of its smartphone devices.

Overall the Chinese tech giant reported a net profit of 59.3 billion yuan (£677m) for 2018, up 25 percent from a year ago, slightly slower than a 28 percent rise in 2017.

This was helped after its consumer business revenues reached a record 348.9 billion yuan (£39.8 billion) in 2018, thanks in part to its premium device models such as the P series and Mate series.

Global revenue for climbed 19.5 percent to hit 721.2 billion yuan ($107 billion) last year.

Despite the strong consumer financials, Huawei’s network business saw its first drop in revenue in two years.

And Huawei’s management had strong words against the United States and its campaign.

“The US government has a loser’s attitude. It wants to smear Huawei because it cannot compete against Huawei,” Guo Ping, rotating chairman was quoted by Reuters as telling journalists on Friday.

“I hope the US can adjust its attitude,” Guo reportedly added.

The US embassy in China reportedly declined to comment.

Earlier this month the US Secretary of State warned US would not be able to operate in environments where Huawei equipment is used.

But Huawei is said to derive 48.4 percent of its business from overseas markets in 2018, versus 49.5 percent a year earlier.

No-show CFO

The results included a no-show from Huawei’s CFO Meng Wanzhou, who was arrested in Canada in December at the US’ request

Wanzhou is currently on bail in Vancouver where she is fighting extradition to the United States on sanction busting charges.

Wanzhou is the daughter of Huawei founder Ren Zhengfei, and has filed a civil claim against Canada’s government, border agency and police for detaining and interrogating her before informing her she was under arrest.

Canada meanwhile has approved the beginning of her extradition process to the US.

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Author: Tom Jowitt
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