China’s Huawei posts 25 percent rise in 2018 profit on smartphone sales

China’s Huawei Technologies, the world’s third-largest smartphone maker, reported a 25 per cent jump in 2018 net profit, buoyed by a solid performance in its home market and a booming smartphone business.

Shenzhen-based Huawei raked in a net profit of 59.3 billion yuan (USD 8.8 billion), compared to a 28 per cent rise in 2017 and a big rebound from a 0.4 per cent increase in 2016.