Huawei’s business is doing just fine, despite US security risk accusations

Huawei on Monday said that its first quarter revenue jumped up 39 percent compared to a year ago, a sign that the Chinese company’s business continues to grow in the face of a US-led campaign meant to paint Huawei as a security risk. It was the first time Huawei released a quarterly report, according to CNBC, and the move was almost certainly intended to show that the US has failed to stunt the company’s growth.

Huawei said it had shipped 59 million phones in the first quarter and touted revenue of 179.7 billion yuan ($26.8 billion).

US intelligence officials have warned that Huawei’s network equipment — which is used by many carriers around the world — could be secretly retooled by China for espionage purposes. Washington has been pressuring other countries to keep Huawei out of their 5G infrastructure plans. But on Monday, Huawei brushed off those efforts by claiming it had shipped over 70,000 5G base stations in the first quarter of 2019 and signed 40 contracts to provide carriers with 5G equipment.

Huawei has steadfastly denied that it has or would aid China in spying, but the US insists the company would have little choice in the matter. Huawei’s well-regarded smartphones are not sold by any US carriers as a result of the security concerns. Most recently, there was a report about the CIA warning allies that Huawei has received funding from China’s security agencies.

[“source=theverge”]