Huawei asked the United States to drop ‘loser’s attitude’

Huawei asked the United States to drop ‘loser’s attitude’

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China’s Huawei Technologies asked the United States to drop its loser’s attitude and again denied the U.S. allegations of possible use of its network gear spying for Chinese government.

Huawei’s rotating chairman Guo Ping commented on Friday that government of the United States for being unable to compete with is smearing Huawei and that is a loser’s attitude.

Huawei is world’s largest network equipment maker and third largest smartphone maker but U.S. allegations have caused its networked business weak and to face tighten scrutiny globally.

The allegations also hurt the company’s growth pace as in 2018, for the first time in past two years, it reported drop in network business which also outshined its strong 45 percent growth in smartphone sales.

The United States not only banned Huawei in last August but also urged allies to eliminate it from their next-generation 5G mobile networks build outs. And on Thursday, the network equipment maker faced a latest blow when Britain warned the company to remove long-standing security issues in its equipment and also uncovered new noticeable technical flaws.

Huawei’s 2018 net profit though grew by 25 percent to 59.3 billion yuan ($9 billion) but remained lower than growth rate of 28 percent a year ago, while revenue from its carrier business dropped by 1.3 percent to 294 billion yuan but company blamed the investment cycles of telecommunication industry for the revenue fall.

However during the same period company’s global revenue surpassed the $100 billion mark for the first time, largely because of the record sale of 348.9 billion yuan in its consumer business which surged by increasing demand for its premium smartphone models such as the Mate series and P series.

Huawei’s total revenue also marked the fastest growth pace in two years which grew by about 20 percent to 721 billion yuan.

Huawei is not only hoping grow all its three groups of enterprise, consumer and carrier by double digit, is but also aiming to become the world’s largest smartphone selling company in 2019.

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She is the Managing Editor for in-depth discussions and analysis as well as breaking news at Markets Morning. She works closely with Editor-in-Chief Zac Berry on content and publishing initiatives for the site. Brianna Clemons has worked as a financial journalist and editor since 1997. She lives in Bucks County, PA, with her husband, four young children and one dog.

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