10 Data Points To Learn About China's Huawei
Did you know China's Huawei Technologies had about the same revenue as the COMBINED revenues of Alibaba, Baidu, and Tencent during 2018!
Huawei is one of China'a largest companies and has been in the news a lot lately. Huawei's CFO and the daughter of the company's founder, Meng Wanzhou, was arrested in Vancouver on December 1, 2018, at the request of US authorities. And on Friday, January 11, 2019, another Huawei executive was arrested by Polish authorities for espionage.
Watch Milton's video to learn about Huawei: company history, its importance to the Chinese government, and why you should pay attention to this Chinese tech giant.
- Huawei manufactures telecom equipment and smartphones with more revenue than Baidu, Tencent, and Alibaba combined.
- Founder started Huawei in 1987 and was former engineer for Chinese army. Huawei aggressively trying to win global foot race for 5G technology.
- 5G technology is so valuable because of economic and military benefits. US estimated to benefit from 3 million jobs and nearly $500 billion in GDP from 5G.
- Huawei ranked #72 on global Fortune 500 as it overtook Ericcson in 2012 for telecom equipment manufacturer and overtook Apple as the second largest smart phone manufacturer in 2018, only behind Samsung.
- Huawei does not consider itself a private company, but a "collective." Ownership structure of Huawei is mysterious.
- Huawei has the largest market share of smartphones in China with nearly 23% market share versus Apple at 9%.
- US government believes Huawei is a national security risk and has advised consumers to not purchase Huawei phones. US government banned from making Huawei purchases in August 2018.
- Britain, Australia, New Zealand, and Japan has also banned Huawei purchases due to national security concerns.
- Huawei's CFO Meng Wanzhou arrested during December 2018 on fraud charges for attempting to skirt US sanctions on Iran.
- Polish authorities arrested Huawei executive on January 11, 2019, for espionage. Employee responsible for selling equipment to Polish government.
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