With the on-going trade war between U.S and China, Hauwei is considering selling off a few assets to stay afloat in business.

China’s Huawei has had to battle suspicions and worries about the security of its networking equipment for many years, which most recently culminated in it being placed on a US blacklist by the Trump administration. Now, Huawei is officially bowing out of one line of business, by agreeing to sell off its undersea cable operations, and reportedly shrinking another, by reducing smartphone production orders with supplier Foxconn.

Huawei Marine Systems, in which Huawei holds a 51 percent stake, lays undersea fiber optic cables between continents in much the same way that Microsoft, Facebook, and Google have been doing. It was established in 2009 and has laid more than 50,000km of cable across 90 projects, according to its website. In recent times, however, the toxicity of Huawei’s reputation as an alleged Chinese spying facilitator has made it increasingly difficult for Huawei Marine Systems to win contracts, as the FT reports. That reports cites Fergus Hanson from the International Cyber Policy Centre at the Australian Strategic Policy Institute, who says “It’s becoming a more difficult environment when trying to negotiate deals to build cables because [Huawei] is so much in the spotlight.”

Hengtong Optic-Electric, another Chinese company, is buying Huawei’s share of the submarine cable operation, and it made the planned sale official in a filing to the Shanghai Stock Exchange. The price of the transaction has not been publicized.

In other Huawei news, a report from the South China Morning Post indicates that Foxconn, leading production and assembly partner to many smartphone makers, “has stopped several production lines for Huawei phones in recent days as the Shenzhen company reduced orders for new phones.” This appears to be a direct response to Huawei’s placement on the Trump blacklist, which deprived the company of its Android license, effectively neutering Huawei’s European Android smartphone business until further notice.

The SCMP goes on to report that Foxconn had apparently been hiring new staff earlier in the year to help it cope with Huawei’s growing demand, and Huawei was indeed on a path to becoming the world’s biggest smartphone vendor by the end of 2019. Reaching that goal has now been substantially delayed by the US ban setback and may even become impossible, depending on how long Huawei’s enforced estrangement from Google and other US partners continues.


https://gtbensmagazine.com/2019/06/03/huawei-is-selling-off-its-undersea-cable-business/

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If you have good thoughts, they will shine out of your face
like sunbeams and you will always look lovely.

Sun re oo

Adeiu Huawei

e b like say, i ll go sell of my landed property buy that company oo. nairaland advice me pls

With the on-going trade war between U.S and China, Hauwei is considering selling off a few assets to stay afloat in business.

Wow!
Power of the Almighty America!!

Torh

This thing really hit dem hard Sha

Na wa

Bad market

X

Very bad.....

Sorry Huawei

I see Huawei surviving this...
Mainly by European and Asian backup...
Uk, France and Germany have given them a Go with building their 5G...
Asian countries would also do same, except Japan and maybe South Korea

Tough times doesn't last. Huawei stay strong. Anyways Africa might be a great market place ,if you so consider

The power strategy to leaving ur enemy nowhere to escape. Reminds me of how Augustus casear finished off Marc Anthony. Really sad such a cruel and slow death

What a pity... Yoruba people 'll say, "o ma se oo"

america controls the world

Africans are supposed to be cashing in on opportunities to make good income but our youths n leaders are too blind to see anything, if such trade wars was going on in Africa the way they will leverage on it to exploit and milk you dry will be a race while the war last. Some big boys are buying currencies and travelling to as much as four countries to exchange and make mad profit if u know u know if u don't know you are 10 steps behind GBE soul eh...

Guess the US might win the war finally against Hauwei but the bigger trade War it’s gonna be really difficult for The US and lastly Apple and iPhone gonna suffer for it in China their biggest market!

You guys don't comprehend yet the powers that the POTUS wields.. Obama only used his against Africans and for the propagation of Islam. Trump is using his for the good of the USA....

MAGA my G ...

DREAMZZZ:
america controls the world

Yeah matter of time

This America strong ooo ..

Ewedegubbler:
You guys don't comprehend yet the powers that the POTUS wields.. Obama only used his against Africans and for the propagation of Islam. Trump is using his for the good of the USA....

MAGA my G ...

8 bottles of Heineken for u..u truly understand World Politics

USA self

WHo are we?

Lobatan

Huawei will still sell China with the way it's going

Im just using a personal logic on this matter! Me as an investor, I won’t dump USA for China! Not at this point in time at all.

sammuell:
USA self

Don't mess with USA so any time


Oga bubu Is signing against USA at un I fear for my country

Trust me Huawei is playing to the gallery.


Just watch