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“I hope the U.S. can adjust its attitude,” Guo said at a press briefing that was attended by more than 100 journalists from across the world. The U.S. embassy in China declined to comment cufflinks deals. Huawei reported a slower pace of profit growth for 2018 as its network business saw its first drop in revenue in two years, overshadowing a robust 45 percent jump in its smartphone unit. Huawei’s outlook has come under a cloud over the past year with the United States voicing concerns that its equipment could be used for espionage. Washington has also urged its allies to ban Huawei from building next-generation 5G mobile networks..
The latest blow for the company came on Thursday when Britain rebuked it for failing to fix long-standing security flaws in its mobile network equipment and revealed new “significant technical issues”. For 2018, the Shenzen-based firm reported a net profit of 59.3 billion yuan ($9 billion), up 25 percent from a year ago, versus a 28 percent rise in 2017. Revenue from its carrier business fell 1.3 percent to 294 billion yuan, which it blamed on telecommunications industry investment cycles cufflinks deals.
However, the surge in its consumer business sales to a record 348.9 billion yuan, driven by demand for its premium smartphone models such as the P series and Mate series, helped push global revenue to above $100 billion for the first time. Its total revenue rose nearly 20 percent to about 721 billion yuan, marking the fastest pace of growth in two years. The performance of consumer business was in line with what Huawei flagged in January, when it also said it could become the world’s biggest-selling smartphone vendor this year cufflinks deals.
Guo said he expects all three business groups – consumer, carrier and enterprise – to post double-digit growth this year, although he did not provide a specific number. The company has previously said it was targeting total revenue of $125 billion this year, a record high cufflinks deals. “Moving forward, we will do everything we can to shake off outside distractions, improve management and make progress towards our strategic goals,” Guo said. Huawei has “prepared some inventories for uncertainties” that has reduced its net cash position, Guo added, without giving any details..
To fight global concerns over its gear, Huawei has launched an unprecedented media blitz by opening up its campus to journalists and parading its typically low-key founder, Ren Zhengfei, in front of media. It has stepped up the campaign in recent months after Meng Wanzhou, Huawei CFO and Ren’s daughter, was arrested in Canada in December at U.S. behest on charges of bank and wire fraud in violation of U.S. sanctions against Iran cufflinks deals. She denies wrongdoing. The company has said the spying concerns are unfounded..