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China tech

Huawei profit surge helps shake off US security concerns

Trade war stings Chinese company's telecom equipment business

Huawei Technologies reported record profits for 2018 despite mounting pressure from the US over espionage concerns.    © Reuters

TAIPEI -- Huawei Technologies said record profits and surging growth overseas would help it fend off US concerns that its equipment could be used for spying by the Chinese government.

The world's biggest telecom equipment maker said earnings jumped 19.5% to 721.2 billion yuan ($105.19 billion) for 2018, while profits surged 25% to 59.3 billion yuan, the company said in its annual report released Friday.

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