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As Sweden hesitates over ban, Huawei seeks financial assistance from the Chinese state
Sweden is already reviewing its Huawei ban, but the Chinese vendor is still reportedly looking to raise billions by flogging its Honor smartphone unit to the Chinese state.
With Huawei having challenged its decision to make the imminent 5G spectrum auction conditional on the winners not using Huawei or ZTE kit, Swedish telecoms regulator, PTS issued the following statement yesterday: “The Administrative Court in Stockholm has today decided that the license condition relating to Huawei in the allocation of the 3.5 GHz and 2.3 GHz bands will not apply for the time being (inhibition).
“PTS has therefore informed the operators who are approved to participate that the planned auction will not start on Tuesday 10 November. PTS will continue to analyze the administrative court’s decision and review the possibilities of starting the auction as soon as possible.”
On one level this is simply a matter of following due process as it would be wrong to proceed with the auction when its legitimacy is still in question. On the other. It does seem to indicate that PTS made a fairly major mistake in in conflating the Huawei decision with the 5G spectrum auction. We’re not aware of any other countries trying this move and now Sweden can’t move ahead with its 5G plans until this is resolved.
Huawei will presumably perceive this as a minor win in its bid to force the EU’s hand on the legality of banning it from the bloc’s telecoms networks, but it seems to have more immediate cashflow issues to deal with. Reuters has been suggesting Huawei might flog its standalone Honor smartphone business for a few weeks and it looks like it was onto something.
Now, those handy ‘people with knowledge of the matter’ have told Reuters that Huawei expects to raise around $15 billion in return for handing Honor over to a consortium that includes the government on Shenzhen – i.e. the Chinese state. The other major partner is Huawei’s smartphone distribution partner Digital China.
While the superficial reason for this move is to enable Honor to circumvent US sanctions affecting Huawei’s core smartphone operations, it also seems like a pretty handy way to launder a massive injection of state cash. The underlying reason behind western distrust towards Huawei is that it’s suspected of being too close to the Chinese state and moves like this will surely only serve to strengthen those suspicions.
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24 February 2021 @ 17:42:04 UTC
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24 February 2021 @ 15:05:07 UTC
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24 February 2021 @ 14:48:05 UTC
ban anything connected with CHInna with high security
vishy harihara, what is the reason behind it
Big deal. So is Boeing
liar. The WTO cleared Boeing of that charge.
Your position is just an idiotic answer. Zoom also is Chinese and nobody cares. Zoom opens a server in your computer and even makes video with your stupid face so it could spying even more on you using your computer or your phone. But why you people don’t just ask your overpriced iPhone seller to stop manufacturing it’s devices in China ?? In the free world people use Zoom without any fuss over any potential issues. Free world means one world where boss is not a silly blonde one…
No country can manufacture high end high phones in big volume except China which has big volume stem qualifieds
China is also low cost
As if the Western world want to pit Chinese companies against the Chinese state. Microsoft, Amazon’s, Google, Boeing etc, are all doing business with the Department of Defense. Part no body points any finger at them. Am just sick of this hipocracy.
Defense contracts, idiot. Not consumer related products for international commerce. Which is exactly why the WTO ruled in favor of Boeing vs Airbus.
All I see is double standard. So cell phone is considered commercial product ,or defensive product…
Ban everything that comes out of china do not buy chinese produce make them pay for covid 19
Still awaiting payment from the usa over the 2008 financial crash and let’s not mention the Spanish flu (USA flu) that is.
How old are you? 9?
Idiot, the US can’t produce a lot for private use. Only weapons for wars.
Are you on weeds? Don’t blurt out like Orange without any proof.
The West have repeatedly accused China’s Huawei of spying for the Communist Regime without a tangible evidence. But the West also do spying against all other countries through multinational companies, NGOs, aide-based organizations and even GOOGLE.
West spying all the time
Lots of rubbish, and some idiotic statements with little evidence. All countries, no matter capitalism or communism, only care their own national interests.
We brought this on ourselves. We made china a world super power by buying cheap goods and supporting a dictator that now threatens the security of the world.
It is said that capitalists will sell bullets to their enemy.
That is exactly what we’ve done. Now we will be forced to live – or die – with the consequences.
Those western countries cannot manage to control their Cov19 situation, is simply because they cannot get their Act together, as a society & as a nation.!
The weak xenophobic mindset of some guys here reveal some see China rise as the decline of the old world établissement China is the future and Europe is ready to deal with it welcome from Germany
Such racist Trumpian bullshit in some if these comments. We critcized China when it attempted communism under Mao. Then they successfully switched to capitalism and we can’t take the competition. BTW, Shenzen does NOT equal the Chinese State. Many Chinese city governments participate in local enterprises to support local economic development and to garner tax earnings for civic projects
Xi has been subverting and reversing Deng’s reforms from day one. Of course, you are oblivious to that.
The world will and must Sue China. For Trillions if dollars in compensation. For deaths Cost injury. And if it means the world at war with China. Then so be it. They must learn that they cant get away with murder.🐷🐷🐷
Boycott all Chinese goods until the modern day slavery that occurs there stops. Buying from China aids and abets sweatshop slavery and assists their war machine in bullying their neighbours for baseless territorial claims over the South China Sea and claims over Taiwan.
Not to mention intellectual property theft.
That a company recieved “state funding” is no big deal. This happens everywhere.
The issues involving Huawei are politically motivated; and this should be obvious.
Regarding Covid-19, I think it is shameful and somewhat childish for any nation to blame China for their own mishandling of the pandemic.
Good thoughts from you lads, I’m still reading.
I am surprised by the comments showing many readers have still stuck int he narrative months ago about the origin of the coronavirus, the timeline has already been admitted by various country’s medical experts that 1)Spain has the virus in Mar 2019 samples, 2)Italy medical experts admitted they have found at four cases of virus infection as early as Sept 2019, 3)The US New Jersey mayor retested his medical sample and found he had the virus Nov 2019. I wonder how these commenters read (or being feed) the news?