Huawei’s Annual Revenue Exceeds USD 100 Billion Record
COVID-19 and China
GUO Ping, Huawei's rotating chairman releases Huawei's 2018 annual report. PHOTO: Credit to Huawei

Mar 29, 2019 /EqualOcean/ - Huawei’s (华为) CNY 721.2 billion (approx. USD 107 billion) total revenue last year broke the USD 100 billion mark for the first time in history, according to Tencent Technology News.

Last year, Huawei’s notable accomplishments include the launch of its 5G network and “SoftCoM AI” solutions. They achieved CNY 294 billion yuan in total sales revenue. Across various sectors, the company has achieved key breakthroughs and saw its revenue increase significantly.

According to the report, Huawei has solidified its position in the global market and established itself as a high-end brand. They achieved a CNY 348.9 billion sales revenue, a 45.1% YOY increase. Their developed technologies such as cloud computing, big data, IoT, etc., to support smart cities and provide better safety measures made CNY 74.4 billion, an 23.8% increase.

In addition, Huawei Cloud also has more than 160 cloud services and 140 solutions. Its partners also operate in 40 free zones and 23 geographic regions around the world. They have more than 6,000 global development partners and more than 200 A-level services across 10 industries.

“Information and communication technologies are playing critical roles in various vertical industries, thus causing digital changes and driving the rapid growth of the online economy,” GUO Ping (郭平), Huawei’s Rotating Chairman, said in the Chinese report. “We strictly adhere to our standards and give top priority to network security and privacy protection to ensure our products are secure and credible.”

According to CNBC, the official translation of GUO’s speech regarding 5G technology is “with 5G investments made by carriers this year, and industry digitalization opportunities and growing consumer demand, Huawei will enjoy double growth in this year.”

Regarding the future, he emphasized that a company’s Achilles heel is its internal management. “Huawei will try to eliminate external influences, strive to improve their internal management and move strategically. We will also continue to adhere to compliance management. By building an ecosystem with open cooperation and a win-win structure, Huawei will carry out organizational changes and will continue to strengthen it.”

Despite Huawei’s turbulent 2018, it didn’t stop the company from breaking a revenue record. The record was mainly based on “record phone sales”, according to Android Central, which based on Digital Trends, Huawei sold a grand total of 300 million phones.

Despite the rocky relationship with the United States, Huawei is making significant advances in other countries from the data extracted from IDC. However, this feat didn’t come easily with political strife.

Huawei’s smartphones have been well received worldwide, some speculating that most of it came from Honor’s success. While the press release does not detail which specific phone sold better, it does arguably reflect how consumers do not intertwine politics with produced products.

Putting the United States and Huawei conflict aside, over 80,000 Huawei employees were involved in R&D research which accounts for 45% of the company's total workforce in 2018, according to Huawei's 2018 annual report. Therefore, it would be interesting to see if there are any fluctuations in Huawei’s future growth figures and how its 5G network will impact and influence economies where it has been accepted and where it has not.

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