Huawei posts higher annual profit as smartphone sales hit record in 2018

Huawei was able to pull off a sales record of 348.9 billion yuan ($52 billion) this year.

China’s Huawei Technologies, the world’s third-biggest maker of smartphones, turned in a higher annual profit on record handset sales even as it continued to grapple with heightened global scrutiny amid allegations of espionage.

Huawei Technologies.

Huawei Technologies. Image: Reuters.

Huawei, which has risen quickly to become a dominant player in the smartphone industry, saw its consumer business sales hit a record 348.9 billion yuan ($52 billion) in 2018, driven by its premium device models such as the P series and Mate series.

This was in line with what the company flagged in January, when it also said it could become the world’s biggest-selling smartphone vendor this year.

But the outlook for Huawei is clouded by U.S. accusations that its telecoms network equipment could be used for spying by the Chinese government and calls to allies from Washington to ban Huawei from building next-generation mobile networks.

Huawei has repeatedly said Beijing has no influence over it.

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