European phone companies are getting ready to order tens of billions of euros worth of equipment for 5G networks and Huawei has spent more than a decade positioning itself to win much of that work. "We think any concerns or allegations on security at Huawei should be based on factual evidence", Huawei's rotating chairman Ken Hu said on Tuesday.
Hu said Meng's arrest has had no impact on the travel of the company's senior executives.
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Huawei has been dulling its teeth repeating the same sentences over and over again, categorically denying any and all accusations of it working with the Chinese government, willingly or not.
Huawei has faced a tough year as western countries like the United States, Australia, New Zealand, Britain, pull back from using its products while concerns grow in Japan, France, Germany and even the Czech Republic over security issues.
Indeed, the Rural Wireless Association in the U.S. recently said it believes fully a fourth of its membership now uses equipment from Chinese suppliers like Huawei. Reportedly, Chinese companies offer equipment 30 per cent cheaper than European companies, and one of the important reasons is their ability to make equipment to different specifications.More news: Messi wins record 5th Golden Shoe award
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The company has locked in 25 commercial contracts which according to Hu, puts it in first place among all ICT equipment providers having already shipped more than 10,000 base stations to markets around the globe. Hu said that Huawei's presence could reduce the cost from 15 to 40% in setting up the 5G network, an industry that is expected to hit $20 billion mark globally by 2022. "At the same time, since we're working together with hundreds of telecom operators in the world, and also, we are serving a significant number of enterprise customers, so we look at the full lifecycle support that is needed and build up our stock of spare parts and components to ensure support across the product lifecycle".
In a recent letter to National Security Advisor Ajit Doval, Telecom Equipment and Services Export Promotion Council (TEPC) urged to "Ban the procurement of any Chinese telecom equipment in any government telecom network (centre or state), including power, rail, defence and other Public Sector Units". Ltd.(SHE:002502) And ZTE Corporation (SHE:000063) may pose a threat to cyber security.
The other elephant in the room regarding Huawei's CFO was also touched upon.
"This is help from the UK Government and we feel very appreciative about it".
Huawei, which is the biggest supplier of telecommunication equipment around the world and a leader in 5G development has been facing a backlash from governments across the world for not being secure.