Huawei reports robust 2018 revenue, profit growth

SHENZHEN, March 29 (Xinhua) -- Chinese telecom giant Huawei reported robust revenue and profit growth in 2018 "despite a challenging environment," the company announced Friday.

The company raked in 721.2 billion yuan (about 105.2 billion U.S. dollars) in global sales revenue, up 19.5 percent year-on-year, while its net profit increased 25.1 percent to reached 59.3 billion yuan, according to Huawei's 2018 Annual Report.

Huawei continued to invest heavily in research and development (RD) in 2018, spending 101.5 billion yuan, or 14.1 percent of its sales revenue, in this field.

Over the last ten years, Huawei's RD expenditure has exceeded 480 billion yuan, the report showed.