When she was detained in Canada nearly three years ago, Meng Wanzhou was crisscrossing the globe as finance chief of all-conquering Chinese tech giant Huawei Technologies Co.
She arrived back home in late September to a very different company, one forced into retreat by American sanctions that have left it fighting for its future.
Huawei is in the midst of a deep slump. Its revenue has dropped for three straight quarters. The company has fallen to No. 9 in smartphone sales, with buyers evaporating from Europe to China. Its global telecom market share is shrinking as it loses out in key markets, a result of U.S. pressure designed to halt the spread of Huawei’s 5G technology..
Components are running scarce for lines of business such as mobile phones, the result of far-reaching rules enacted by Washington that curbed the ability of Huawei—which the U.S. has accused of stealing trade secrets and violating sanctions—to obtain parts and software made using American technology. Just a thought.
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