For 2018, Huawei announced that revenues passed $100 billion and earnings up by 25%.
The Chinese vendor today announced a net profit of 59.3 billion yuan ($8.66 billion), up 25% on 2017 figures, and hailed revenue growth of 19.5%, to RMB721.2 billion ($105.2 billion).
Huawei’s battle with the US is having an impact. Operating cash flow is down by 22.5% to RMB74.7 billion ($11.1 billion) and inventory has spiked 28% to RMB375 billion ($55.9 billion), the annual report shows.
The results reveal Huawei’s success in the handset division. Handset sales overtook the carrier unit for the first time, with sales rising 45% to RMB349 billion ($52 billion). Huawei is now the clear number two smartphone brand by units shipped, trailing only Samsung in this market.
By contrast, the core carrier business shrank 1.3%, to RMB294 billion ($43.8 billion), accounting for just 41% of total sales.
Overall, Huawei’s results would still be the envy of many western telecom gear manufacturers.
You can see Huawei’s announcement at https://www.huawei.com/us/press-events/news/2019/3/huawei-2018-annual-report