Huawei sells 59 million smartphones in Q1, revenue up 39%
- Author: Anthony Vega Apr 23, 2019,
Apr 23, 2019, 0:26
The Times reported that, according to the U.S. intelligence agency, Huawei was being funded by the Chinese People's Liberation Army, the National Security Commission, and a third branch of the Chinese state intelligence network.
Earlier this year, United States intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report.
A Chinese telecoms giant that wants to supply vital technology for Britain's new 5G mobile network has received funding from branches of Beijing's state security apparatus, the Central Intelligence Agency has told spy chiefs.
Huawei'srevenue rose 39pc over a year earlier in the latest quarter despite USA pressure on allies to ban its equipment from fifth generation networks.
The US government has been trying for some time to convince other countries that the use of Huawei technology is not safe but, until now, it has not publicly explained what is worrying them. Although Huawei refuses to "comment on unsubstantiated allegations backed up by zero evidence from anonymous sources", it continues to chase legal action against the U.S. government for supposedly unfair penalisation the company. It's also facing charges of theft of trade secrets from US companies.
Huawei has in recent years been testing technology for intelligent connected cars in Chinese cities such as Shanghai, Shenzhen and Wuxi and has signed cooperation deals with a swathe of vehicle makers including FAW, Dongfeng and Changan. Huawei has repeatedly denied the allegations.
Furthermore, Talaat revealed that Egypt is keen on coordinating with the Chinese company in artificial intelligence (AI), as well as technology transfer, and the 5G network service.
"Egypt wishes to cooperate with Huawei in the field of artificial intelligence, technology transfer and with 5G", Amr Talaat said.
Meng Wanzhou, Huawei's chief financial officer and daughter of its founder, Ren Zhengfei, was arrested in Canada in December at the request of the United States on charges of bank and wire fraud in violation of US sanctions against Iran. In the first quarter, Huawei shipped 59 million smartphones, according to its business report.
The Shenzhen-based firm, the world's biggest telecoms equipment maker, also said its net profit margin was around 8 per cent for the quarter, which it added was slightly higher than the same period previous year.