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Huawei’s future is uncertain after its chief financial officer was arrested

Avatar of Nick John By Nick John Dec31,2023 #Huawei #uncertain
Huawei's future is uncertain after its chief financial officer was arrested 3
Huawei's future is uncertain after its chief financial officer was arrested 3

Yesterday (December 7), Ms. Manh Van Chu – Chief Financial Officer and Vice President of Chinese Technology Group – Huawei was accused by the Supreme Court of British Columbia (Canada) of `conspiring to defraud many organizations`.

Ms. Meng will be detained until December 10, when her bail hearing will resume, Reuters reported.

Manh is the daughter of Huawei founder and CEO – Nham Chinh Phi, expected to be her father’s successor as CEO.

Visitors visit Huawei’s booth at the Mobile Expo in Shanghai.

`This will have a chain impact and influence the equipment purchasing decisions of many more countries,` said Gu Wenjun – founder of research firm ICwise. `The US can take this opportunity to request

The arrest further increased US-China trade tensions.

To date, the US has imposed import taxes on $250 billion of Chinese goods, and tightened controls on investment from China.

China’s ambition to become a world leader in high-tech industries has always been considered a threat to national security by the US.

This year, the Australian and New Zealand governments followed the US in banning Huawei from participating in installing 5G networks in the country, due to national security concerns.

`We believe it is unreasonable for the US government to use this kind of approach to pressure a company,` Huawei said in a letter to suppliers on Thursday.

Edison Lee – analyst at Jefferies warned that Huawei could be hit like rival ZTE.

If the US also fines Huawei for selling US goods to Iran, it `could immediately impose an export ban`.

However, some analysts say that unlike ZTE, Huawei does not rely heavily on outside suppliers, such as Qualcomm, for smartphone production chips.

Huawei has invested heavily to develop 5G technology, promising to launch it next year.

Discussion of Ms. Meng’s release is likely to be an important part of trade negotiations between the United States and China.

However, there are still many countries that are open to Huawei.

`I don’t think every country will listen to the US,` Gu commented, `But let’s hope the US will not ban sales to Huawei. Because then, the war will spread to the telecommunications sector as well. In

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