Huawei Technologies Co. projected a 21 percent jump in 2018 revenue, showing off a sharp acceleration in top-line growth despite a difficult year in which it struggled to dispel growing concerns about its business and the security of its products.
China’s largest technology company by sales is estimating $108.5 billion of revenue for 2018, a year in which it shipped more than 200 million phones to overtake Apple Inc. in global market rankings. Rotating Chairman Guo Ping struck a confident tone in a year-end letter posted Thursday, vowing to re-double the company’s efforts to take its place at the forefront of the fifth-generation wireless revolution.
Guo repeated many of the same comments Ken Hu, another of Huawei’s rotating chairmen, made last week during a rare sit-down with international media. The outreach comes as Huawei becomes a lightning rod for America’s fears about China’s economic and technological ascendancy.
Elsewhere, major customers from Orange SA to Deutsche Telekom AG and BT Group Plc have voiced concerns about Huawei’s gear, on top of existing bans in Australia, New Zealand and the U.S.
“The hardship can’t stop us from advancing,” Guo wrote in a letter posted on one of Huawei’s WeChat accounts. “No matter how the storm-tossed situation changes, our strategy of procurement, particularly with regard to U.S. suppliers, will not change.”