In a new measure, the US government has reportedly begun blocking approvals of licenses to export to the Chinese tech giant Huawei, which covers most items and businesses within the US.
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U.S. lawmakers have introduced a bill that would impose more sanctions on Huawei and other Chinese 5G companies from accessing US banks in an attempt to reduce potential security risks.
Carriers will be barred from installing new Huawei equipment from September next year while the purchase of new equipment will be banned earlier in January. Existing equipment can be overhauled.
CEO of Huawei, Ren Zhengfei, said that the firm's divorce with its budget smartphone brand, Honor, will cut off all ties between the two companies, hopefully allowing Honor to regain U.S. tech.
Lawmakers are pushing for banning the installation of Huawei equipment as early as September next year. Violation of the ban would result in heavy fines and taking cuts from sales proceeds.
Huawei might sell its Honor smartphone business to a few potential bidders as it shifts its focus from its mid-range handsets to its high-end mobile devices. The deal could amount to 25 billion yuan.
Huawei has cut its Indian revenue target by roughly 50%. Additionally, the firm will lay off 60-70% of its staff in the country, excluding those in research and development and Global Service Centre.
Despite a stagnant first quarter, Huawei reported CNY454 billion ($65 billion) in revenue during the first half of 2020, a 13.1% increase year-on-year, with a net profit margin of 9.2%.
The French government won't impose a complete ban on the usage of Huawei's technology in the country's 5G networks, but it is pushing telcos to avoid switching to the Chinese company.
Britain's health minister said that the Shenzhen firm has clear conditions to meet if it wants to continue its involvement in Britain's 5G network, saying that the initial direction was conditional.
Boris Johnson is expected to begin phasing out the use of Huawei's tech in the UK's 5G network as soon as this year. This comes after new US sanctions, which forces Huawei to use untrusted technology.
Huawei has went on record to say that even if the current trade ban is lifted, it's not planning on using Google services in its smartphones again, out of fear of another similar ban.
According to a new report, Huawei hasn't been able to obtain an Android license for its upcoming Mate 30 series of handsets, due to its ban by the United States Department of Commerce.
The company is considering it for the upcoming 2020 consensus in Russia and as a pilot project for the potential launch of the Russian operating system on Huawei tablets in the future.
The founder of Huawei Technologies advises in an internal memo that a substantial restructuring and reorganization of the company is needed to size up against its inclusion in the Entity List.
After the ban on Huawei products in the U.S., officials and company execs have denied spying allegations, stating the U.S. has no proof. China is also working on a list of "unreliable" foreign firms.
Huawei has filed a new court motion for a speedy process on the verdict on a U.S. ban against its products and services. The move follows a series of mishaps befalling the company last week.
