Despite Bans, Huawei Expects 5G Equipment Sales of $100b in 2018
December 24, 2018
The ban on Huawei products, which includes the US, Japan, Australia, and New Zealand escalated when the US requested that Canada detain the company’s CFO, pending potential extradition to the US allegedly based on violations of the US ban on selling products to Iran. Nonetheless, Huawei continues to gain traction in the 5G world with those who are not part of the US alliance. Huawei announced that it had 25 commercial contracts and recently signed 3 more major 5G equipment supply deals and expects to see total sales of ~$100b this year, up from $92b last year, along with meeting its target of selling 200m smartphones worldwide. The company has shipped over 10,000 5G base stations, which puts it ahead of competitors Ericssonand Nokia.The company has pledged $2b toward cybersecurity issues in order to satisfy other governments (UK and Canada) of their compliance toward privacy concerns. Huawei announced it would spend $2 billion over the next 5 years to focus on cybersecurity by adding more people and upgrading lab facilities. The typically secretive Chinese technology giant made the comments at one of its most in depth press conferences at its Dongguan offices, after welcoming about two dozen international journalists into its new campus in the southern Chinese city.The European Commission expressed concern while the French satisfied to have the company’s equipment in France. One of the new deals appears to be with Portugal’s largest telecom company, while the UK government excluded Huawei from its core 5G network and Germany’s 5G auction could also exclude Huawei.