Huawei is aiming for a 15 percent increase in its revenue to $125 billion in 2019, despite pressure from US and Europe to ban telecom network supply.
Huawei is estimate to have generated revenue of around $38 billion from carrier network business, $10 billion from enterprises and $52 billion from smartphones and other devices — in 2018. Huawei will share its financial results for 2018 on Friday.
China-based ZTE announced its financial results on Wednesday indicating a strong recovery in business.
Samsung Electronics said on March 26 that it expects its first quarter earnings to fall short of market expectations as declines in its memory chip prices have widened.
Ericsson CEO Borje Ekholm said on March 27 – ahead of its annual general meeting — that the third largest telecom network maker is yet to see an increase in mobile network contract wins on the back of security concerns over Huawei.
Huawei, which filed a case against the US Government for sales restrictions imposed by Congress, said that’s revenue jumped 36 percent over the first two months of 2019.
Eric Xu, Huawei’s rotating Chairman, said the U.S. campaign against the company will not have much impact on the sales in 2019. Huawei believes that many countries will not follow the United States in banning Huawei from building 5G mobile networks.
“Recently we are seeing a large number of countries making their own decisions,” Eric Xu said during an interview at Huawei Technologies’ headquarters in Shenzhen.
While Australia has banned Huawei from 5G networks over security concerns, European Union countries such as Germany and France have indicated they are likely to ignore the U.S. call to shut out the telecoms giant.
Eric Xu said he does not expect the United States to intensify its attack on the technology company by barring sales of US components to Huawei.
Huawei is the world’s top producer of telecoms equipment and third-biggest maker of smartphones.
HiSilicon, Huawei’s semiconductor operations, produced more than $7.5 billion worth of chips last year. That compares with an estimated $21 billon of chips that Huawei acquired from outside vendors.