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Huawei Profit Jumps 25% After Winning Smartphone Customers

Huawei Technologies Co. Unveil P30 Flagship Smartphone
Photographer: Marlene Awaad/Bloomberg
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Huawei Technologies Co. posted a 25 percent jump in annual profit even as the Chinese telecommunications giant faces a U.S.-led push to keep it out of next generation networks.

China’s largest tech company by sales posted net income of 59.3 billion yuan ($8.8 billion) in 2018 as it won customers for its smartphones and networking gear, according to a statement on Friday. Revenue for the year jumped almost 20 percent to 721 billion yuan.