China’s Huawei posts higher profit as smartphone sales hit record

China’s Huawei TechnologiesNSE 0.42 %, the world’s third-biggest maker of smartphones, turned in a higher annual profit on record handset sales even as it continued to grapple with heightened global scrutiny amid allegations of espionage.

Huawei, which has risen quickly to become a dominant player in the smartphone industry, saw its consumer business sales hit a record 348.9 billion yuan ($52 billion) in 2018, driven by its premium device models such as the P series and Mate series.

This was in line with what the company flagged in January, when it also said it could become the world’s biggest-selling smartphone vendor this year.