Chinese telecoms giant Huawei expects to see sales rise 21% for 2018 despite, what the chairman described as a year of ‘incredibly unfair treatment.’
Forecasts are that the company will make sales of $108.5 billion for 2018 thanks largely to having signed-up 26 commercial contracts for its 5G technology despite the targeting by western governments.
Huawei has never and will never present a security threat. Setbacks will only make us more courageous, and incredibly unfair treatment will drive us to become the world’s number one.- Guo Ping: rotating chairman, Huawei
2018 has been a trying year for Huawei with a top company executive arrested in Canada earlier this month, BT announcing it had removed Huawei equipment from its 4G network and New Zealand banning Huawei equipment with their rollout of 5G. Both Australia and then the US also enacted similar bans.
The US in particular is keen to raise cybersecurity issues as part of its bruising trade war with China. The US has accused the firm of being too closely linked to the Chinese military and government and is therefore a threat.
Huawei has undertaken a charm offensive in response to these allegations. Last week it took the unprecedented step of opening up its research and development labs to the media.
Banning a particular company cannot resolve cybersecurity concerns. Huawei’s record is clean.- Ken Hu: rotating chairman, Huawei
In a tit for tat move following the arrest of Huawei’s chief financial officer, Meng Wanzhou in Canada, two Canadians were detained in China on the grounds of national security. One of those arrested, Michael Kovrig, was a former Canadian diplomat based in Beijing from 2014 to 2016.
Meng Wanzhou faces charges of violating Iranian trade-related sanctions and is currently under house arrest in Vancouver. Commentators have noted that China has targeted Canada, especially on social media while muted to the US as they do not wish to undermine the current Xi and Trump cease-fire in their trade war.
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