The company posted revenues of $108.5 billion for 2018, as it continued its exponential growth in 2018 – but serious challenges lie ahead for the world’s biggest network equipment provider in 2019
Chinese tech giant, Huawei, will focus on building a more resilient business structure and capitalising on strategic business opportunities across the globe, as it looks to shake off a tumultuous end to 2018, according to its rotating chairman, Guo Ping.
Last year saw exponential growth for the Chinese kit manufacturer, as it shipped 200 million smartphone handsets, 10,000 5G base stations and signed 26 commercial 5G contracts with network operators – more than any other network equipment provider.
However, that success was tempered by 5G bans in the US and Australia, amid allegations that the company’s network infrastructure could pose a risk to national security.
"It has been an eventful year, to say the least. But we have never stopped pushing forward, and as a result our 2018 sales revenue is expected to reach $108.5 billion, up 21 per cent year-on-year," said Ping in his New Year message for 2019.
Despite posting strong financials for 2018, the Chinese kit manufacturer knows that it will have to meet its detractors head on in 2019, if it is to continue its exponential growth.
"If we can develop the simplest possible network architecture, make our transaction models as simple as possible, ensure the highest level of cyber security and privacy protection, produce the best products, and provide the best services, no market can keep us away," he said.
Huawei has said repeatedly that it is willing to work with governments and international cyber security firms in an attempt to allay fears over the security of its network architecture.
In addition to this, Huawei says that it intends to streamline its product offering, in a bid to make more efficient use of its resources.
"We will continue to optimize our product investment portfolio to achieve end-to-end strategic leadership. As part of this, we need to retain products that are competitive and appealing and phase out those that aren’t. We will cut down on the development of products that haven’t been competitive for some years now and redirect our people towards areas of strategic opportunity," Ping said.