Huawei grows by 39% to $ 27bn.

Huawei Technologies said the first quarter revenue grew 39% to 179.7 billion yuan (26.81 billion dollars) in the first quarterly results of the Chinese technology firm.

The Shenzhen-based firm, the largest telecom equipment manufacturer in the world, also said the net profit margin was about 8% for the quarter, which was slightly higher than the same period last year. Huawei has not detected its current net profit.

The limited release of the results comes at a time when Washington has intensified a campaign against undecided Huawei, claiming that its equipment could be used for espionage and urging US allies to stop it from building up networks new mobile to the next generation.

Huawei has repeatedly denied the allegations and has launched an unprecedented media campaign by opening its campus to journalists and making it available for media interviews, his typically low-founding, Ren Zhengfei.

The Chinese firm, which is also the smartphone maker in the world, said last week that the number of contracts it has been awarded to provide 5G telecom equipment has increased further despite the US campaign.

By the end of March, Huawei said it had signed 40 commercial 5G contracts with carriers, sent more than 70,000 5G base stations to worldwide markets, and expects to have shipped 100,000 by May.

Huawei’s network company saw the first fall in revenue in two years in 2018. But Ren Zhengfei said in an interview with CNBC earlier this month that network equipment sales rose 15 percent, while consumer business sales grew with more than 70 percent in the first quarter.

Ren said that “These figures show that we are still growing, not falling.”

Guo Ping, the company’s next chairman, said he expects all three business groups – consumers, carriers, and companies – to increase two figures this year.

Huawei also said on Monday it had sent 59 million smartphones in the first quarter. It did not reveal comparative figures of a year ago, but according to market research firm Analytics, Huawei sent 39.3 million smartphones in the first quarter of 2018./Investing

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