Huawei Sales Up 40%

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CBJ — Despite intense international pressure spearheaded against Huawei by the United States over alleged security concerns, the Chinese tech company still managed to see its revenue increase by almost 40% compared with the same quarter a year earlier.

Washington’s pressure on allies to avoid Huawei, China’s first global tech brand, threatens to block access to Europe and other markets as carriers prepare to invest billions of dollars in next-generation technology.

The company denies U.S. accusations it facilitates Chinese spying. However, the U.S. points to numerous other instances of Chinese spying and hacking and aren’t leaving anything to chance in a ‘guilty until proven innocent’ situation.

Huawei, founded by a former Chinese military engineer in 1987, is privately held but reports financial results to try to defuse Western security concerns.

Many companies, including Canada, are backing off on possible partnerships with Huawei for the development of the new 5G networks.  Canada recently signed a research deal with Nokia of Finland when early expectations were that the partnership would likely have been with Huawei.

@CanBizJournal

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