Huawei said revenues for 2018 advanced 19.5 percent from the year before to CNY 721.2 billion while the net profit jumped over 25 percent to CNY 59.3 billion. The company gave the numbers in its 2018 Annual Report, showing it maintained growth despite pressure from the US and growing international scrutiny.
Guo Ping, one of Huawei’s three rotating chairmen, highlighted the importance of 5G for future telecom companies, saying that Huawei will continue to strictly comply with all relevant standards in order to build secure and trustworthy products. "As we work towards this goal, we have been explicitly clear: Cyber security and user privacy protection are at the absolute top of our agenda. We are confident that the companies that choose to work with Huawei will be the most competitive in the 5G era. And countries that choose to work with Huawei will gain an advantage for the next wave of growth in the digital economy," the chairman said.Revenues for the company’s carrier business reached CNY 294 billion, roughly the same as the year earlier. At Huawei’s enterprise business, revenues rose 23.8 percent to CNY 74.4 billion, while at its consumer business, they climbed 45.1 percent to CNY 348.9 billion. Regarding its cloud business, Huawei said it launched 160 cloud services and 140 systems, and worked with partners to serve customers worldwide with 40 availability zones across 23 regions. Huawei has grown its list of partners to more than 6,000 for cloud services, and is actively exploring the use of its AI services in more than 200 projects across 10 major industries.
The company said it made CNY 101.5 billion worth of investments last year into R&D, making up a bit over 14 percent of revenue. Capex over the past ten years has passed CNY 480 billion. The company filed 5,405 patent applications in 2018, ranking the company first worldwide, according to the World Intellectual Property Organization (WIPO).
