Huawei has tu​multuous week!

Crisis in the stock market

Huawei, China’s foremost smartphone and telecommunications manufacturer (and number two in the world behind Samsung) had quite a tumultuous week adding to the global misconductaccusations after their chief financial officer, Meng Wanzhou, was detained by Canadian authorities in early December!

Ms. Wanzhou was detained by Canadian authorities at the request of US authorities for cover-up violations of sanctions that had been placed on Iran.

This week, according to the Business Insider, the US, because of a civil lawsuit, is investigating Huawei with possibly stealing technological data regarding robotic developments by T-Mobile.

Following up on this, the US Congress introduced bills banning US companies from selling microchips to Huawei.

Financial Times then reported that US lawmakers are concerned that Huawei’s solar equipment could interrupt US electric infrastructures if hacked because of poor security measures.

Then, according to Reuters, UK University of Oxford is declining to receive any more funding from Huawei for research and development in the telecom area. Oxford is one of some 20 educational institutions in the UK that receives funding from Huawei.  Public concerns influenced this move in the UK.

And now, Germany which has been slow to follow-suit with the US and UK, is joining the alliance working to keep Huawei from joining it’s 5G network infrastructure due to fears of cyber espionage, some thinking that Huawei’s equipments have built into them a ‘back door’ entrance to intelligence data.

Some members of the Parliament (MP} in Germany are very supportive that their government is now joining its allies and being serious about security concerns regarding Huawei equipment.

 “For too long, the government underestimated the explosive nature of this issue,” said Katharina Dröge, a Green MP. She urged MPs“to finally say publicly what they think of Huawei being involved in the 5G buildout.”

The European Union (EU) is also expressing concerns of the close connection between Huawei and the Chinese government and the influence the government may have on Huawei’s possibleinvolvement in electronic espionage.

Five countries (Canada, US, UK, Australia and New Zealand) make up a group called the ‘Five Eyes’ intelligence sharing network that have prevented any hook-ups between Huawei and its local carriers.

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