Huawei Suffers Amid Security Concerns
The past few months have been very challenging for the Chinese vendor, who is now barred from deploying 5G networks in the US, Australia, New Zealand, and Japan. At the same time, amid security concerns and pressure from the US government to exclude Chinese infrastructure for telecommunications, Canada, Germany, the United Kingdom, Norway, and many other countries are also considering the institution of a ban. Canada is the only member of the Five Eyes alliance who has not yet banned Huawei equipment from its soil but is rumored to be next. Meng Wenzhou, Huawei’s CFO and daughter of the company’s founder and spiritual leader Ren Zhengfei, has been detained in Canada and faces extradition charges to the US, where she will be tried for breaking sanctions when selling infrastructure in Iran.
Despite this challenging environment, Huawei announced it expects record revenues for 2018: almost US$109 billion with a 21% growth year on year. Ericsson and Nokia have not yet reported their 2018 revenues, but they did report US$22.29 billion and US$26.6 billio…
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