Reuters reports that Huawei’s first quarter revenues for the year 2019 have grown 39 percent to 179.7 billion yuan, which translates roughly to $26.81 billion. While the company didn’t make its actual net profit figures public, it said that its net profit margin was approximately 8 percent for the quarter.

These figures show that we are still growing, not declining — Ren Zhengfei

While Huawei is still fighting Washington over allegations of national security which got the Chinese company banned in the United States, Huawei maintains its strong position on the smartphone market, being the second largest manufacturer.

Despite the U.S. efforts, Huawei managed to sign 40 commercial 5G contracts with carriers worldwide. It also shipped more than 70,000 5G base stations, and is expecting this number to grow to 100,000 by May.

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