Huawei's revenues have grown and apparently, the United State's campaign against the Chinese tech company's 5G network has very little or no effect at all. Its CEO and founder, Ren Zhengfei, said in an interview that it turned out that as the U.S. keeps talking about Huawei, they actually gained fee advertisement to the world and this probably played a role in their company's latest increase in profits.
Likewise, CNBC noted that as Huawei's earnings grow, it only shows that the U.S. anti-Huawei campaign did not slow down China's leading tech firm but boosted its sales instead. This is the first time that the company revealed a quarterly report as typically, it only releases its financial results in semi-annual and annual basis.
The move to announce the Q1 report is obviously for everyone to see that despite the ban or being ditched from 5G rollouts in some countries like Japan and Australia, Huawei still continues to grow and that the negative security allegations did not stop customers from purchasing their products.
Ren Zhengfei was referring to the U.S. move of trying to pressure its allied countries such as the U.K. and Germany to reject Huawei from its 5G Network service, citing national security risks. As said earlier, while Washington could not stop mentioning Huawei for its attempts to block it, the Chinese company is only getting a boost from the free advertisements.
Aside from the growth in sales, Huawei further shared that it was able to get 40 commercial contracts signed with leading carriers worldwide for its 5G Network services. As of today, more than 70,000 5G base stations were already shipped around the world. In addition, the company sold more than 59 million mobile phones just in the first quarter this year.
Huawei Technologies said that out of the 40 commercial contracts, 10 were signed just this month. With these developments, the Chinese tech giant said that this only shows that the company continues to earn more votes of confidence from telecommunication networks worldwide.
In a new development, Huawei wins another feat when Britain finally allow Huawei's 5G to operate in the country. The Telegraph reported that Theresa May defied security warnings from the U.S. and gave the green light to the Chinese tech firm. Based on the report, the British PM gave the go signal as Huawei can help the U.K. in building its 5G network.
