China's Huawei profit up 25% in 2018 despite USA pressure

A logo of Huawei hangs in the lobby of the Cyber Security Lab at Huawei factory in Dongguan China's Guangdong province

Mr Song was speaking at a press conference on the release of Huawei's annual report, along with other top executives.

Consumer business sales hit a record 348.9 billion yuan previous year, with Huawei shipping some 206 million handsets.

Despite that, Huawei's sales past year rose 19.5 percent over 2017 to 721.2 billion ($105.2 billion), according to Guo.

Australia and New Zealand have already barred Huawei from parts of their telecommunications networks, and the United Kingdom will make a decision within weeks.

For 2018, the Shenzen-based firm reported a net profit of 59.3 billion yuan ($9 billion), up 25 percent from a year ago, versus a 28 percent rise in 2017.

Guo said he expects all three business groups - consumer, carrier and enterprise - to post double-digit growth this year, although he did not provide a specific number. "It wants to smear Huawei because it can not compete against Huawei", Guo Ping, rotating chairman of the world's top producer of telecoms equipment and No.3 maker of smartphones, said on Friday.

According to the report published by the UK Government, HCSEC has found serious flaws in Huawei products that were examined.

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This week, the European Commission published a recommendation on 5G security that did not include a ban on Huawei products.

But the U.S. has been leading an effort to curb Huawei's ambitions to become the global leader of next generation wireless technology, or 5G.

Huawei is pushing aggressively for leadership in 5G technology, at a time when countries around the world are looking to roll out these next-generation networks.

Huawei is asking a USA federal court in a lawsuit filed this month to throw out a law that bars the Trump administration and government contractors from using its equipment.

The US campaign is having mixed results, CNN said.

"Our intelligence community has made it abundantly clear Huawei and ZTE put the security of our communications at risk and it is concerning that allies like Germany are considering relying on their products", said Republican Sen.

Huawei is the largest seller of telecom equipment in the world. Huawei said it invested more than 101 billion yuan, or about 14% of sales, in research and development. "And countries that choose to work with Huawei will gain an advantage for the next wave of growth in the digital economy", he added.

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