2018 is considered a very successful business year for Huawei with a 21% increase in profit compared to the previous year.
Huawei, the full name of Huawei Technologies Co Ltd, is a multinational network and telecommunications corporation, headquartered in Shenzhen, Guangdong, China. Huawei was founded in 1987 by Nham Chinh Phi, a former Chinese military engineer, with an initial capital of only 20,000 yuan, about 3,000 USD.
At the time of its inception, the company merely imported simple telecommunications equipment from other companies to sell to rural Chinese markets. But within a few years, Huawei has developed and manufactured the device by itself.
In the early 90s, Huawei won the Chinese Government contract to provide telecommunications equipment to the People’s Liberation Army. By 1995, Huawei had generated sales of about $ 220 million, mainly from selling to the rural market.
Soon after, Huawei expanded its business to other areas, including building telecommunications networks, providing services, consulting and operating equipment for businesses inside and outside China, as well as manufacturing. Communication equipment for consumer markets.
In the face of unfavorable information, Huawei’s shares even increased slightly (up 1.11%) in the May 20 session.
Since 2000, Huawei’s sales and profits skyrocketed. Specifically, in 2002, Huawei earned 552 million USD from sales in the international market. In 2005, for the first time, the value of its international market contracts surpassed the value of domestic business.
According to official statistics released in September 2015, Huawei has more than 170,000 employees globally, about 76,000 people participate in research and development (R&D) in research institutes.
There are a total of 21 research institutes located in countries such as China, United States, Canada, United Kingdom, Finland, France, Belgium, Germany, India, Russia, Israel ….
2018 is considered a very successful business year for Huawei.
Specifically, in 2018, Huawei officially became the world’s largest provider of 5G telecommunications equipment. Huawei also surpassed Apple to become the world’s second largest smartphone maker, second only to Samsung.
Huawei’s products and services have been deployed in more than 170 countries and are serving 45 of the world’s 50 largest telecom operators. Its equipment is sold everywhere from Europe and Asia to the Middle East, Africa and Latin America.
According to Huawei’s latest report, Huawei’s total revenue in 2018 reached 108.5 billion USD, an increase of 21% compared to 2017. This is also the first time that the manufacturer’s annual revenue reached $ 100 billion after more than 30 years of establishment. Huawei’s net profit reached 8,656 billion USD, total assets in 2018 reached 97.109 billion USD.
On May 20, a number of US technology companies announced their cessation of cooperation with Huawei, after the US government decree banned Huawei from participating in the construction of a signed telecommunications network.
That means Huawei will not be able to use the Android operating system and hardware devices and technology copyrights owned by US companies.
In the face of unfavorable information, Huawei’s shares even increased slightly (up 1.11%) in the May 20 session. However, the selling force in the session was quite strong. Compared to a year ago, Huawei shares lost 49% of its value.