Huawei reports revenue growth despite US restrictions

Huawei Technologies Co said on Tuesday its global sales revenue grew about 19 percent year-on-year to 858.8 billion yuan ($120 billion) in 2019, despite the US government’s restrictions.

Huawei said net profit reached 62.7 billion yuan, and cash flow from operating activities topped 91.4 billion yuan, up 22.4 percent year-on-year.

Xu Zhijun, Huawei's rotating chairman, said "Despite enormous outside pressure, our team forged ahead with a singular focus on creating value for our customers. We worked hard to earn their respect and trust, as well as that of our partners around the globe. Business remains solid."

In 2019, Huawei's carrier business led the commercial rollout of 5G networks. To further commercial adoption and promote new innovation in 5G applications, the company established 5G joint innovation centers together with carriers worldwide. Huawei's RuralStar base station solutions can effectively address coverage problems in remote areas. These solutions are being used in over 50 countries and regions, bringing mobile internet to more than 40 million people living in remote areas. In 2019, sales revenue from Huawei's carrier business reached 296.7 billion yuan, up 3.8 percent year-on-year.

Huawei's consumer business continues to see robust growth, with a total of 240 million smartphones shipped throughout the year. The company reports further progress in developing the Seamless AI Life ecosystem across all scenarios and devices, including personal computers, tablets, wearables and smart screens. In 2019, sales revenue from Huawei's consumer business reached 467.3 billion yuan, up 34 percent year-on-year.