Huawei announced Ken Hu, one of company’s three rotating chairmen (pictured), took the helm from Guo Ping effective today (1 April), as the company faces mounting scrutiny about the security of its gear and days after it reported a massive hike in 2018 earnings.
Hu also will head the board of directors until the end of September, when Eric Xu will take cover.
Last week, the Shenzhen-based vendor reported its net profit in 2018 jumped 25.1 per cent to CNY59.3 billion ($8.8 billion), with overall revenue increasing 19.5 per cent to CNY721 billion.
The profit gain came despite a dip in revenue from its carrier group, with the unit’s share of total turnover dropping to 40.8 per cent from 49.3 per cent in 2017 as its consumer business, posting a 45 per cent jump in revenue, took over as its largest division for the first time.
A 1.3 per cent fall in revenue in its carrier business came as the global telecoms infrastructure market contracted 18 per cent year-on-year in 2018 to $30.5 billion as mobile operators shifted priorities from 4G to 5G, data from IHS Markit showed.
In recent months, Huawei has stepped up its offensive again the US government, which moved to block operators and government departments from using its equipment on the grounds it poses a risk to national security.
The vendor strenuously denies the assertion and in early March filed a lawsuit seeking a permanent injunction on a US ban on government agencies using its gear.
Guo was aggressive in confronting the US government, last week saying it has a “loser’s attitude” and had “lost all of its table manners”.Subscribe to our daily newsletter Back