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RT’s Boom Bust looks at how Huawei is ‘really kicking butt’ in the face of US pressure

RT’s Boom Bust looks at how Huawei is ‘really kicking butt’ in the face of US pressure
Despite sharp criticism from Washington and its top allies, China’s telecom giant Huawei has managed to post impressive revenues. Spying allegations only seem to have pushed the firm’s international profile higher.

Huawei boosted its revenue of 179.7 billion yuan (US$26.8 billion), a wild surge of nearly 40 percent year-over-year, showing impressive resilience in the face of US pressure aimed at decreasing the telecom firm’s participation in the rollout of global 5G network infrastructure. The company’s net profit margin in the first quarter was about eight percent, slightly higher than the same period last year.

RT’s Boom Bust discusses the controversial issue with correspondent Alex Mihailovich, who says that the Chinese corporation has become an undisputed leader among peers that are focused on smartphones as a part of their bigger plans.

“Samsung is not performing well, as they sort of stagnated with sales numbers with their reports not really showing anything that is of interest to investors,” Mihailovich says, stressing that Huawei is selling more phones than Apple.

The US government has previously accused Huawei of getting funds from China’s state security apparatus, claiming the company was spying on its customers.

Moreover, Washington increased pressure on its allies across the world to make them exclude Huawei from participating in their 5G mobile network development. At the same time, Washington is seeking to extradite the company’s CFO Meng Wanzhou from Canada, to prosecute her for ‘violation’ of its sanctions against Iran.

For more stories on economy & finance visit RT's business section