Huawei Generated $27 Billion Revenue in Q1 2019

A Huawei employee in the campus of the Chinese telecom company in Dongguan, on 18 April

Earlier this year, USA intelligence shared its claims with other members of the Five Eyes intelligence-sharing group, which includes Britain, Australia, Canada and New Zealand, according to the report.

On its part, the Chinese vendor repeatedly has denied allegations of spying and espionage, noting that the United States government has never offered any evidence supporting such claims and, instead, hacked Huawei's servers and stole its email and source codes.

Huawei'srevenue rose 39pc over a year earlier in the latest quarter despite U.S. pressure on allies to ban its equipment from fifth generation networks.

The U.S. has long feared that Huawei's equipment could be used for spying, and these new allegations come at a time where trade tensions are very high between the United States and China. However, Huawei has denied this claim.

"It is all the rage for western governments and media to call Chinese companies a "security threat", Chinese ambassador to the UK Liu Xiaoming said earlier this year, per the Times.

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Huawei, the Central Intelligence Agency, and China's Foreign Ministry have not yet responded to requests made for a comment on the matter.

Analysts expect the company to ship around 250 million devices this year. Australia and Japan have banned Huawei from rolling out 5G.

The US also charged Meng Wanzhou - the company's CFO and founder's daughter - with financial fraud.

Reporting its first-ever quarterly result, Chinese telecom giant Huawei on Monday said its revenue in the first quarter of 2019 grew 39 per cent to 179.7 billion yuan (USD 26 billion), showing that the US-led campaign to ban the firm's 5G equipment has had little impact on its businesses worldwide.

Also in Q1 2019, Huawei's Enterprise Business Group launched its Digital Platform and its new "Huawei Inside" strategy.

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