Published: Tue, April 02, 2019
Markets | By Erika Turner

Gardai to probe spy risks linked to Huawei 5G mobile networks

Gardai to probe spy risks linked to Huawei 5G mobile networks

China-based telecom equipment manufacturer posted Dollars 107.4 billion in revenue in 2018, a 19.5 percent growth as compared to the previous year.

Huawei hit back at Washington earlier this month by suing the United States over a law barring USA government agencies from engaging with Huawei or with third parties that use the company's products, which has crippled Huawei in that lucrative market.

"Moving forward, we will do everything we can to shake off outside distractions, improve management and make progress towards our strategic goals", rotating chairman Guo Ping said.

Huawei has vowed to never allow security "backdoors" in its products which could be used for espionage or sabotage, and insists Washington has never produced evidence substantiating claims of security risks. "Through heavy, consistent investment in 5G innovation, alongside large-scale commercial deployment, Huawei is committed to building the world's best network connections".

Driven by its smartphone sales, Huawei reported a net profit of close to $9 billion in 2018, which was an increase of 25% compared to the previous year.

The US is pursuing criminal charges against Huawei and Ms Meng, including alleged money laundering, bank fraud, stealing trade secrets and violating US trade sanctions against Iran.

Despite all this, Huawei managed to sell more than 200 million phones in 2018, and ended the year as the third largest smartphone maker by shipment, after Samsung, and Apple.

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"The US government is sparing no effort to smear the company", Guo said when announcing the suit.

Sales increased by 19.5 per cent to about 721 billion yuan ($107 billion), CNN reported.

"The U.S. government has a loser's attitude".

Washington is campaigning in Europe and beyond for allies to ban the use of Huawei technology as they develop plans to build new high speed fifth generation, or 5G, mobile networks. Thursday's report authored by British cybersecurity inspectors also said Huawei's plans to address security flaws "could in principle be successful".

The company posted its earnings a day after a United Kingdom watchdog issued a warning over the security concerns allegedly posed by the telecoms giant. The company has already disclosed accelerated growth in the first two months of 2019 as it develops cutting-edge chips and expands into cloud services. The report is released by Huawei Cyber Security Evaluation Centre (HCSEC) Oversight Board, an organization set up by British National Cyber Security Centre to test and monitor Huawei technology, and evaluate security issues posed by using Huawei's equipment in vital national infrastructure.

"We believe the USA court will give us a fair judgment", said Song at the news conference with Guo.

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