Huawei Net Profits exceeded $859 million in 2018 – Research Snipers

Huawei Net Profits exceeded $859 million in 2018

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Huawei has been performing quite well despite the US sanctions and ban on Huawei, the trade war between China and the United States put immense pressure on Huawei, but the company survived the crucial times and managed to cope with the political instabilities.

Earlier it was reported that ban on 5G equipment of Huawei in European countries could cost European operation €55 billion, not only European countries but also the other countries would be affected by this ban, gradually, the governments and companies started to realize that the China-US trade ban would eventually hurt the global economy, it a two-way traffic and an accident between two vehicles would definitely crash the both.

Later Trump administration announced that they will ease the restrictions imposed on Huawei and allow US companies to trade with Huawei. Huawei CEO a few weeks earlier announced to join Yahoo Finance in order to initiate talks regarding Huawei ban.

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Despite all the mess, Huawei’s net profit for the year 2018 rose to 59.35 billion Yuan or $859.80 million up from 47.46 billion Yuan in 2017 showing strong growth of 25.06 percent in just one year.       

Comparison

If we compare Huawei with Samsung which is not exactly a comparison in terms of company size, products range and international business but still, Samsung Electronics witnessed net income of 42 trillion Won, $39.34 billion in 2017. Samsung reported a net income of 22.7 trillion won (US$19.5 billion) in 2016 which was up by almost 100 percent.

Despite being a smaller company as compared to Samsung and the immense pressure by the various global governments, trade war, sanctions and restrictions 25% annual growth shown by the company is admirable. Huawei will continue to grow at extremely fast if global powers cooperate with the company and allow access to their countries for its core products.