2018 has not been the best year for Huawei Technologies. The company was banned by several countries from their 5G development projects due to security concerns, with Japan being the most recent one. Here is a look at the countries that have blocked Huawei:
Japan is the latest country to ban networking equipment from Huawei and ZTE Corp. due to security concerns. Three Japanese carriers decided not to use 4G equipment or adopt new 5G hardware made by Chinese companies. These carriers will continue to sell phones and tablets made by Huawei and ZTE as the level of security risk from these devices is considered lower.
The US government banned its agencies from using Huawei and ZTE Corp. technology and excluded both companies from its 5G plans due to national security concerns over alleged links between Chinese firms and the Chinese government.
The US is said to have asked its allies to refrain from using Chinese telecom equipment citing risks of communications monitoring. The US reportedly offered financial benefits to those who sided with it on this matter while reducing assistance for those who chose otherwise.
In August, Australia banned Huawei and ZTE from being involved in the country’s 5G development efforts due to national security concerns. Australia had previously banned Huawei from one of its broadband-related projects.
In November, New Zealand barred its carrier Spark from using Huawei’s networking equipment for its 5G plans due to concerns over national security. However, the country is approaching this decision cautiously as it has a strong trade relation with China and is looking at options to reduce security risks, if any, rather than banning the Chinese firm completely.
New Zealand also dismissed claims that it was working under the influence of the US and Australia following their decisions to block Huawei.
Earlier this month, British telecom firm BT Company said it will not use core technology from Huawei for its 5G network but will work with the Chinese firm in minor areas of its 5G infrastructure development.
BT said its decision was based on a routine business process and not due to concerns over national security. However, the head of British intelligence services said the UK would have to look more closely into the involvement of Chinese firms in 5G development.
Canada is said to be mulling a similar prohibition following the arrest of Huawei’s CFO last week. Huawei has repeatedly refuted claims regarding security risks associated with its products and despite facing bans in several countries, the company remains positive over its work in 5G technology. Huawei has reportedly signed deals with over 20 countries, including France, for the development of 5G.
Benchmark stock indexes pared their recent gains early this week amid elevated inflation concerns, but regained a part of the momentum later aided by recovery in tech stocks. The Dow
Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as
Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and