Economy

Huawei deputy chairman defends its security policy

Huawei deputy chairman defends its security policy

After years of being told that it was a national security threat by USA lawmakers anxious that the communist Chinese government will force the company to gather intelligence for it, Huawei has had enough.

Driven by its smartphone sales, Huawei reported a net profit of close to $9 billion in 2018, which was an increase of 25% compared to the previous year.

"Security concerns are having an impact on Huawei, as more and more countries place restrictions on the firm's network gear", said Brock Silvers, managing director of Kaiyuan Capital. Huawei denies that any of its products pose a national security.

The company said overall revenue grew 19.5 percent while its consumer business surged 45 percent. "As long as the Chinese company maintains its technological edge, more countries will embrace Huawei's products", Xiang said.

Huawei's annual report mentioned the U.S. legal troubles only in vague terms under the heading "Contingent Liabilities".

Australia, Japan and Taiwan have imposed curbs on use of Huawei technology, but Germany, France and other governments are balking at US demands to exclude it from 5G networks. This combined with all the unverified talk that its products contain back doors ready to be a conduit for secret information sent to Beijing, and watching how US official is trying to get allies to not use its 5G network solutions has Huawei's executives ready to fight.

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"The future of [the] telecom industry lies in the opportunities that 5G and future generations of technologies can provide to other industries", he said. Canada detained chief financial officer Meng Wanzhou last December at the behest of the US.

Despite the security flaws identified in the report Thursday, British authorities said they do not believe the defects were a result of "Chinese state interference" and the report did not find that Huawei was giving the Chinese government backdoor access as the U.S. is warning.

In the first two months of 2019, revenue has risen by over 30 percent. But Guo said Friday the company has to spend more time talking to potential customers "to address their concerns".

Huawei has announced sales of 5G networks to a handful of carriers and contracts with major carriers in Germany and other countries for field testing.

Huawei is asking a US federal court in a lawsuit filed this month to throw out a law that bars the Trump administration and government contractors from using its equipment. Huawei said it invested more than 101 billion yuan, or about 14% of sales, in research and development. The company says that improperly punishes the company without giving it away to defend itself.


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