It was founded in 1987 by a former People's Liberation Army officer and Party member and got its start reverse engineering telephone switching equipment from Hong Kong. Huawei has long been regarded as a rogue player in the international telecoms market with deep ties to the Chinese Communist Party. Meng's arrest on fraud charges was widely seen as part of that campaign.
Washington embarked on an intense campaign to block Huawei, and Ms. Huawei has said it would not comply with such a request and believes that it cannot be legally forced to do so. That alarmed the US, which equated Huawei's dominance with Chinese-control of global telecommunications-under a 2017 Chinese law all domestic companies are compelled to help the Chinese intelligence services on demand. Three years ago, Huawei was on the cusp of dominating the world's 5G infrastructure with equipment priced far below competitors. What's at stake is control of international 5G networks, which are expected to transform global communications. But it may also signal a de-escalation of the pressure Washington has brought to bear on the Chinese company now that Huawei is on its heels. That led to the release two Canadian citizens who had been held hostage in China as a result. Xu's latest comments came as the US dropped its extradition battle over Meng Wanzhou, Huawei's chief financial officer and daughter of the company's founder, who had been trapped in Canada for three years. Xu had said earlier that the company's goal now is to simply survive. Huawei chairman Eric Xu said last week that the company's smartphone revenue will drop by $30 to $40 billion in 2021 from the $136.7 billion reported last year, adding that there are no prospects for recovering that money in the next few years. They have also shrunk Huawei's market for fifth-generation wireless network infrastructure around the world. US sanctions targeting China's telecommunications giant Huawei Technologies have crippled the company, effectively forcing it out of the global smartphone market and now threatening its domestic phone business as well.
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