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Huawei Hopes for Better Business Relations with US under Biden’s Presidency

While Huawei has maintained relatively impressive growth in its revenues this year, the bans from the US have outrightly slowed down its percentage growth rate.

Chinese multinational technology company Huawei Technologies Co Ltd is looking forward to a favorable business relationship with the United States (US) under the administration of Democratic President-elect Joe Biden. According to a report by CNBC, Paul Scanlan, the chief technology officer (CTO) at Huawei Carrier Business Group revealed this optimism and the company’s commitment to open new talks that can improve the relationship.

Huawei and Its Story with US

The past four years of Donald Trump’s presidency has plunged many Chinese companies into a state of distress as it pertains to a business relationship with their US counterparts. The United States’ paranoia stems from the thought that successful Chinese firms, especially those that have wide access to its citizen’s data may be using the data to spy for Xi Jinping’s China Communist Party (CCP)

Huawei ranks at the forefront of the major Chinese firms impacted by the US clampdown. Despite the US flexing its muscles to ban WeChat from Tencent Holdings Ltd (HKG: 0700), a move that also almost got ByteDance’s TikTok out of the US, Huawei still suffered major strain with its chips suppliers in the US.

Besides the data spying data fear, the 5G technology being championed by Huawei appears to have hit off badly with the US who has done all it can to clamp down on the company’s 5G program and its evangelism around the world. The US stance not to back the 5G tech from the company has also seen other developed economies including the United Kingdom, Sweden, and France amongst others to reject the rollout of 5G networks from Huawei in their respective countries.

One of the pronounced ways the US strained the operation of Huawei is to prevent the company’s US chips suppliers chief amongst whom is Qualcomm Inc (NASDAQ: QCOM) from providing the company with the chips needed to produce its smartphones. While Huawei has maintained relatively impressive growth in its revenues this year, the bans from the US have outrightly slowed down its percentage growth rate, according to CNBC.

Proposed Solutions

Scanlan who works with the unit of Huawei most threatened by the United States, the 5G deployment unit said when there “is a change in government, there is always the opportunity to reset relationships.” Scanlan in reference to the company’s relationship under President Donald Trump noted that Huawei had a lot of “challenges,” but that it is diligently working to surmount those challenges with its customers and business suppliers around the world.

Nonetheless, Huawei remains “optimistic” that both entities can resolve their differences. “We would welcome more dialogue,” said Scanlan, adding that “with dialogue comes understanding, then comes trust, and then people can do business together.”

Scanlan also revealed the readiness of Huawei to allow government officials to come to inspect its products in order to ascertain that the products and technology do not pose any national security threat to any nation.

Business News, Market News, News, Technology News

Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

2020-11-16 10:25:21


Bitcoin News Network

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