Huawei’s revenues have reached the $100 billion mark for the first time, despite rising pressure from the US over its security concerns.
The Chinese phone manufacturer reported revenues of 721.2bn yuan ($107bn), while its profits jumped 25% to 59.3bn yuan.
Global revenues were up nearly 20% as a result of strong sales in mainland China. However, its carrier business which sells infrastructure around the world saw a 1.3% drop.
The US has led a campaign against Huawei over concerns it is linked to the Chinese government, posing a threat to national security. The Chinese company has repeatedly stressed that it is independent from the Chinese government and has denied it poses a security risk.
US, Australia and New Zealand have all banned local businesses from using Huawei for future 5G networks.
In February, the UK’s National Cyber Security Centre said the security risks posed by Huawei are “manageable”. However, earlier this week it criticised the company, warning that it could provide”only limited assurance that the long-term security risks can be managed in the Huawei equipment currently deployed in the UK”.
Earlier in March, Huawei announced it was filing a lawsuit against the US government after it banned federal agencies from using its products.