Huawei sales top $100bn despite US-led pressure

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And the forcefulness with which the USA has been issuing its own warnings, the official suggested, was a reflection of the high stakes at hand. -Chinese tensions over technology and accusations of cyber-spying and violating trade sanctions on Iran.

The company is grappling with the December arrest of chief financial officer Meng Wanzhou, daughter of company founder Ren Zhengfei.

Huawei's annual report, released at corporate headquarters in the southern city of Shenzhen, did not detail what caused the carrier business decline or make clear reference to the global pressure.

2018 was a turbulent year for Huawei in the us, but it looks like its troubles haven't had any impact on the company's bottom line.

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The latest blow came on Thursday when Britain rebuked Huawei for failing to fix long-standing security flaws in its mobile network equipment and revealed new "significant technical issues".

TechCruch observed that the United Kingdom government could simply order Huawei to address all of the major concerns spotlighted by the HCSEC, instead of accepting the company's assurances that everything will be taken care of, but such a brute-force approach could compromise the performance and stability of the 5G network and make future upgrades hard.

But, as Green said, those other equipment vendors "aren't trying to achieve the unique feat that the U.K. -Huawei partnership is: namely make a not-fully-trusted partner into a trusted one".

The development comes amid concerns about the company's involvement in 5G telecoms infrastructure because of claims the firm could be compelled to assist in Chinese state intelligence work, something Huawei has repeatedly denied.

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The issue took centre stage at the press conference for foreign and worldwide media at the company's Shenzhen headquarters. But Guo said Friday the company has to spend more time talking to potential customers "to address their concerns".

Overall revenue was up 19.5% from 2017, and Huawei also managed to net a profit of $8.8 billion (59.3 billion yuan), an increase of 25%. 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.

Mr Guo blamed weak network gear sales on a temporary lull in investment by carriers. He expressed confidence shipments of fifth-generation, or 5G, technology will take off this year. New Zealand's GCSB spy agency, for example, effectively blocked Huawei's 5G equipment from the country by telling telecoms operator Spark that it couldn't use it, but the country's government subsequently said the door was still open if the concerns could be mitigated. It has launched a more aggressive strategy in recent months to counter what it sees as an American "smear" campaign.

Why it matters: Huawei may be able to produce enticing hardware at lower costs than other smartphone makers, but its security practices leave a little to be desired.

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Mr Guo said that as of last month, Huawei has signed more than 30 5G commercial contracts and shipped more than 40,000 5G base stations. The company says that improperly punishes the company without giving it away to defend itself.

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