Chinese telecom equipment giant Huawei Technologies will continue investing in the fifth generation of wireless technologies, known as 5G, despite rising hurdles in the global market, Chairman Liang Hua said Tuesday.
The Chinese company faces significant setbacks in its 5G business as a number of countries have banned Huawei’s equipment and services, citing national security concerns.
“In the face of a crisis of confidence from the West, we must do our own work well,” Liang said. “We believe that customers will make their own decisions.” He said Huawei has already obtained 26 commercial 5G contracts.
Huawei has been under a global spotlight since Chief Financial Officer Meng Wanzhou was arrested in Canada earlier this month on the request of U.S. authorities. Meng has been released on bail and awaits court decisions on whether she will be extradited to the U.S. to face fraud charges.
Liang was named Huawei’s acting CFO after Meng’s arrest. He said Huawei’s financial system and business operations have remained normal.