After 3 Years of US Sanctions...China and Huawei Survive to Dominate 5G Around the World
3 years ago the US government decided to ban Huawei technologies from building America’s 5G network. From an American perspective, it made complete sense. There is no way the United States would allow their biggest tech rival the ability to come in and install the network that runs the country’s entire 5G program.
Other American allies like the UK and Canada followed America’s lead (even though the UK’s entire 4G network was built by Huawei) and the US has sanctioned and cut off China’s access to the most advanced smart chips in the world.
As a result, Huawei has been struggling. Their sales of smart phones has dropped considerably and the company has had to pivot and find new revenue streams in order to stay profitable.
Simply look at this quote from Huawei founder Ren Zhengfei:
In a leaked internal memo, Ren Zhengfei told Huawei staff “the chill will be felt by everyone” and the company must focus on profit over cashflow and expansion if it is to survive the next three years, indicating further job cuts and divestments.
“The next decade will be a very painful historical period, as the global economy continues to decline,” Ren said, pointing to the pandemic as well as the impact of the Ukraine war and a “continued blockade” by the US on some Chinese business.
However all is not lost for Huawei, which just last years was ranked as the 8th most innovative company in the world by Boston Consulting Group. Huawei has been able to pivot and still deploy it’s powerful 5G network in countries around the world. Huawei has noticeable presence in Latin America, Africa, Middle East, and Southeast Asia, and despite the US sanctioning the company, Huawei’s 5G core network is still the strongest in the world according to the UK’s Globaldata.
In my latest video, I break down 3 incredible projects that Huawei has built that is changing how the world will do business in the future. I highlight:
The world’s smartest shipping port in Tianjin, China
The world’s smartest hospital in Bangkok, Thailand
The world’s smartest coal mines in China
All of these industries are being transformed by Huawei’s impressive 5G network. Watch my latest YouTube video to see these incredible projects first hand: