Huawei’s revenue has consistently increased since 2007, and has been breaking its own revenue record every year. The company is split into three core business segments – carrier network business, enterprise business, and consumer business. Its carrier network business is the company’s most lucrative segment, with the consumer business sector being the second most profitable one. Although Huawei has developed into a global company, a large proportion of its revenue is still generated from its domestic market. As of 2019, the Middle East and Africa are the second largest and most important markets for the company, generating revenue of over two million yuan for Huawei since 2018.
Huawei is the largest network service provider in the world, accounting for about 30 percent of the global market share, largely due to the dominant market position in the most populated country the world. Huawei is also the leading manufacturer of VoIP and IMS equipment with about 26 percent of the global market. Ericsson and Nokia are the company’s closest competitor in both markets. The company is also one of the main players in the telecom equipment and ethernet switch market.
Although Huawei supplies many white-label products for other content-service providers, it also produces and sells a variety of devices under its own name. As of the last quarter of 2019, the company held a share of around 15 percent of the global smartphone market as the second largest market player right after Samsung, selling more than 56 million smartphones in the quarter. Inside China, Huawei has been the vendor with the highest smartphone market share since 2017, where the second and third place holder Oppo and Vivo held merely around half of what Huawei held.
Although Huawei claimed to be an independent and privately-owned corporation on its website, some of the advanced technologies Huawei is developing have recently gotten themselves into major controversy regarding China's alleged power grab in the global telecommunication industry, among which 5G is definitely the most influential one. Facing a growing demand for faster and boarder applications of internet connection in our times, 5G development seemed inevitable for major countries and thus became a strategic expansion technology. Being the most popular vendor of 5G hardware in China, Huawei's business expansion of 5G has aroused suspicion worldwide. In May 2019, United States once announced a full ban on doing business with Huawei, though pushed back multiple times, the announcement led to a worry of Google not supporting Huawei devices anymore. As a result, Huawei has launched own operating system Harmony OS later in the same year in response to the change of business environment.