Secured over 25 commercial 5G contracts: Huawei

Chinese technology giant Huawei Technologies said on Tuesday it has secured more than 25 commercial contracts for 5G, the largest in the world, and has shipped more than 10,000 base stations for the fifth generation of mobile communications.

Rotating chairman Ken Hu, speaking at a press conference at the company's headquarters in Shenzhen, also said Huawei expects revenue to exceed $100 billion this year.

The company reported revenue of $92 billion in 2017.

Huawei, the world's biggest producer of telecoms equipment, faces intense scrutiny in the West over its ties to the Chinese government and concerns its equipment could be used by Beijing for spying. The company has repeatedly denied the allegations.

The arrest of a top Huawei executive in Vancouver at the request of US authorities on December 1 has sparked a diplomatic dispute. 

Meng Wanzhou, Huawei's chief financial officer and the daughter of its founder, faces US allegations that she misled multinational banks about Iran-linked transactions, putting the banks at risk of violating US sanctions.