Huawei Technologies announced that its total sales rose 19.1 percent to CNY 858.8 billion or $120.97 billion in 2019.
Huawei said its sales from carrier business rose 3.8 percent to CNY 296.7 billion or $41.79 billion.
Sales revenue from Huawei’s enterprise business grew 8.6 percent to CNY 89.7 billion or $12.63 billion.
Sales revenue from Huawei’s consumer business increased 34 percent to CNY 467.3 billion or $65.84 billion in 2019.
Ericsson, the third largest telecom network maker, reported annual revenue of SEK 227.2 billion or $22.45 billion in 2019.
Nokia, the second largest telecom network maker, has posted annual revenue of 23.315 billion euros or $25.49 billion in 2019.
ZTE, the fourth largest telecom network maker, reported annual revenue of 90.74 billion yuan or $12.78 billion in 2019. ZTE’s revenue is from areas such as telecom network, devices and enterprise business divisions.
Huawei reported its smallest annual profit increase in three years, hurt by weak overseas sales amid an intensifying U.S. campaign to restrict its global expansion due to security concerns, Reuters reported.
Net profit of Huawei Technologies touched 62.7 billion yuan or $8.9 billion, up 5.6 percent in 2019 as compared with 25 percent jump a year earlier.
Huawei invested 15.3 percent of its 2019 revenue or CNY 131.7 billion – back into R&D. Its total R&D spend over the past decade now exceeds CNY 600 billion.
“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,” Eric Xu, rotating chairman of Huawei, said in its annual report.
Accusing Huawei of being a threat to national security, Washington placed the company on its so-called Entity List, which restricts sales of U.S.-made goods and some other items made abroad that contain U.S. technology.
U.S. President Donald Trump’s administration is also preparing further measures that will seek to restrict the supply of chips to the company, sources familiar with the matter told Reuters this month.
The United States alleges the Chinese government could use Huawei equipment to spy, an accusation Huawei has rejected.
Huawei’s China sales surged 36.2 percent to 506.7 billion yuan. In contrast, revenue from the Asia-Pacific region excluding China fell 13.9 percent, while in Europe and the Middle East sales grew 0.7 percent.
Huawei dominated smartphone sales in China, taking a 38.5 percent share of the market in 2019 compared with 27 percent a year earlier, according to research firm Canalys. This was in part due to a boost in nationalist sentiment after the company came under increasing pressure from the United States.