Huawei vows to 'shake off' pressure as network business takes a hit

Chinese telecom giant Huawei vowed on Friday to"shake off outside distractions" as it announced that its telecom infrastructure business contracted slightly in 2018 amid a global US campaign to blacklist the company over espionage fears.But its carrier business, which supplies telecom infrastructure to much of the world, posted a rare decline, suggesting that the US pressure could be having an impact.

"Security concerns are having an impact on Huawei, as more and more countries place restrictions on the firm's network gear," said Brock Silvers, managing director of Kaiyuan Capital. Huawei also is grappling with the December arrest by Canada of chief financial officer Meng Wanzhou, daughter of company founder Ren Zhengfei, on US charges that she and Huawei circumvented sanctions against Iran.

He also hinted that Huawei's market dominance made it a crucial player in the global 5G rollout that could not be sidelined. He said Huawei signed more than 30 commercial contracts for 5G in 2018 and shipped more than 40,000 5G base stations to markets around the world. Washington has long considered Huawei a potential threat due to the background of founder Ren, a former Chinese army engineer.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China's Huawei sees little impact on sales from US broadsideThe U.S. campaign against China's Huawei is having little impact on the company's sales and it is unlikely many countries will follow the United ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Ericsson says no bounty from Huawei 5G security worriesTelecoms equipment supplier Ericsson is yet to see an increase in contract wins on the back of security concerns over China's Huawei, the Swedish company's chief executive said on Wednesday The mobile network gear maker counts market leader Huawei and Finland's Nokia as its main rivals and
Source: YahooSG - 🏆 3. / 71 Read more »

Huawei urges US to drop 'loser's attitude' as carrier business revenue slipsChina's Huawei Technologies called on Washington to drop the 'loser's attitude' and once again rubbished U.S. allegations its gear could be used ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »