Huawei reports 25% profit growth in 2018 despite US pressure

Chinese multinational telecommunications equipment and consumer electronics manufacturer, Huawei Technologies Co. Ltd. reported Friday that its annual profit jumped 25% to 59.3 billion yuan ($8.7 billion), down from 28% growth last year - even though it narrowly missed its sales target.

Its carrier business, which provides telecommunications products including 5G equipment worldwide, dropped by 1.3%, a possible sign that intense pressure from the US-led campaign against the company is taking a toll.

The Chinese tech company shipments grew by 33% in 2018, compared with an 8% decline for Samsung and a 3% dip for Apple.

Earlier this year, Richard Yu, CEO of Huawei's consumer business, said Huawei will displace Samsung as the world's largest smartphone seller by 2020.

Let's wait and see how if Huawei can topple Samsung by then.