HUAWEI HAS ANNOUNCED its financial results for 2018-19, and they tell the tale of a tech giant to rival Apple, Microsoft, Amazon, Facebook and Google.
With revenue of $105bn (£80.5bn), up 20 per cent year on year, Huawei has become the third big tech company to beat the $100bn ceiling, after Google and Microsoft did it last year.
Profits jumped by a quarter to $8bn (£6.1bn), a figure not to be sniffed at, especially for a company in private hands.
The biggest rises come from the smartphone sector (well, it wasn't going to be network equipment, was it?) following the release of two massive phone ranges - the P20 and Mate 20, which have catapulted the Chinese company into the biggest of the big leagues. The handset business now represents half of the entire revenue of the company.
That said, the network/business side of the company only dropped 1.3 per cent, which given that many countries are questioning whether it can be trusted to provide equipment for their 5G networks, is a smaller than expected slump.
In the UK, a decision on the matter will be made next month on Huawei's 5G worthiness, but a report yesterday from the National Cyber Security Centre found that firm's equipment was full of potential vulnerabilities and whilst there is no evidence of deliberate back doors, much of the kit is 'sloppy'.
In Friday's report, Huawei says that "cybersecurity and user privacy protection are at the absolute top" of its priorities.
Nevertheless, the consumer side has achieved massive growth, even though its smartphones are effectively banned in the US - taking out a massive potential market.
Rotating Chairman Guo Ping pulled no punches in his assessment of the US situation: "We Chinese would say that they don't mind their table manners," he said, "I feel very sorry for these so-called gentlemen."
Ouch. That's cold, dude. μ
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