Huawei Sees Surge In Revenue

Mainland technology giant Huawei says its first-quarter revenue rose 39 percent over a the previous year, despite US pressure on allies to shun its telecom technology as a security risk.

Huawei, the biggest global maker of network equipment for phone and internet companies, reported revenue of 179.7 billion yuan the first three months of the year.

Washington's pressure on allies to avoid Huawei threatens to block access to Europe and other markets as carriers prepare to invest billions of dollars in next-generation technology. The company denies US accusations it facilitates spying Beijing.

Huawei, founded by a former Chinese military engineer in 1987, is privately held but reports financial results to try to defuse Western security concerns.

The company gave no quarterly earnings but said its profit margin was 8 percent, which would be about 14.4 billion yuan. (AP)