Huawei revenue up 39 percent from one year ago

The US increasingly also is putting pressure on its allies, including Europe, New Zealand, Australia, and the United Kingdom, to ban Huawei products, with threats that it would be "difficult" for US to do business in countries that deployed Huawei equipment.

In a report in The Times, an unnamed source says that the CIA has been in contact with United Kingdom intelligence officials to say that the Chinese company has received funding from three different branches of China's state security network.

"Huawei does not comment on unsubstantiated allegations backed up by zero evidence from anonymous sources", a representative from Huawei told The Times.

The report comes after earlier this month US Secretary of State Mike Pompeo warned that Washington may scrap cooperation with some "important strategic partners" who use Huawei Technologies Co Ltd systems. However, Huawei has denied this claim. It's also facing charges of theft of trade secrets from USA companies.

The company, the Central Intelligence Agency and China's Foreign Ministry did not respond immediately to requests for comment.

Not too long ago in December, Meng Wanzhou was arrested in Canada at the request of the USA for charges of bank and wire fraud in violation of US sanctions against Iran.

Furthermore, Talaat revealed that Egypt is keen on coordinating with the Chinese company in artificial intelligence (AI), as well as technology transfer, and the 5G network service.

Amid such charges, top educational institutions in the West have recently severed ties with Huawei to avoid losing federal funding. In the first quarter, Huawei shipped 59 million smartphones, according to its business report.

The sanctions were lifted after ZTE paid US$1.4 billion (S$1.9 billion) in penalties.

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.


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