Chinese telecoms giant Huawei said revenues topped US$ 100bn in 2018 despite a US-led campaign against the business on fears it poses a security threat. The firm said revenue for 2018 hit 721.2bn yuan (US$ 107bn), while net profit jumped 25% to 59.3bn yuan.
Huawei has filed a lawsuit against the US government over a ban that restricts government agencies from using its products. In a statement, the firm said the US Congress has failed to produce any evidence to support its restrictions.
Huawei Technologies founder Ren Zhengfei said “there’s no way the US can crush us”, according to an interview he gave to BBC. “The world cannot leave us because we are more advanced. Even if they persuade more countries not to use us temporarily, we can always scale things down a bit,” he said.
The United States Justice Department has filed a host of criminal charges against Chinese telecoms giant Huawei and its chief financial officer, Meng Wanzhou. The charges against the world's second largest smart-phone maker include accusations of bank fraud, obstruction of justice and theft of technology.
Prime Minister Justin Trudeau has fired Canada's ambassador to China, John McCallum. It follows controversial comments Mr McCallum made about an extradition case involving a senior executive from the Chinese telecoms giant Huawei. Mr Trudeau said in a statement he had asked John McCallum to step down, but did not offer a reason.
The chairman of Chinese tech giant Huawei has warned that his company could shift away from Western countries if it continues to face restrictions. Huawei has been under scrutiny by Western governments, which fear its products could be used for spying.
Germany is considering ways to block Huawei from its next-generation mobile phone network, according to reports. Berlin is exploring stricter security requirements which may prevent Huawei products being used in its 5G network.
The United States is reportedly investigating Huawei for stealing trade secrets from American business partners in the latest action against the Chinese technology giant. The criminal inquiry was first reported by the Wall Street Journal (WSJ).
Canadian businessman Michael Spavor, who worked with North Korea, is being investigated on suspicion of harming China’s state security, officials said, days after a former Canadian diplomat was detained in China in an escalating diplomatic row.
Huawei Technologies Co Ltd’s chief financial officer faces U.S. accusations that she covered up her company’s links to a firm that tried to sell equipment to Iran despite sanctions, a Canadian prosecutor said on Friday, arguing against giving her bail while she awaits extradition.