US Sanctions on Huawei
Huawei Pays Out $9.65-Billion to Staff
Image sourced from Notebook Check. Chinese multinational tech conglomerate Huawei has paid out dividends totaling $9.65-billion to its current and retired staff in its employee shareholder scheme, the Shanghai Clearing House said. Some 131,507 current and former workers are involved in the shareholder scheme, according to the company’s 2021 annual report released last week, Reuters reported. The filing that was published on Saturday doesn’t break down the dividends, according to reports. Huawei’s full-year revenue dropped 29% to 636.8 billion yuan ($100-billion) last year due to the sanctions imposed by the US on the company. The company’s net profit jumped by 76% which was mainly because of the sale of its budget-brand smartphone unit Honor. The US imposed trade restrictions on Huawei thr...
UK Cybersecurity Review May Mean the End for Huawei 5G Deal
Sourced from Getty Images. The UK’s National Cybersecurity Agency is expected to conclude that US sanctions against Huawei will make it impossible to use the Chinese company’s technology as planned for implementation of 5G throughout the country. Announced on Sunday, this emergency review is designed to pave the way for the country’s government to push for the total elimination of Huawei equipment in British phone networks by 2023, while also having the political consequence in dispersing a Conservative backbench revolt. The Guardian reports that this move will amount to a hasty reversal of the policy announced by ministers in January to limit Huawei to 35% of the British 5G network supply. The move likewise may irritate China, and add hundreds of millions in costs to UK-based BT and other...
