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Huawei Is Selling Off Its Undersea Cable Business - Business - Nairaland 191m3i
Huawei Is Selling Off Its Undersea Cable Business (24711 Views)
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| hassan4: 3:53pm On Jun 03, 2019 |
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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 istration. 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/ 1 Like 1 Share |
| Re: Huawei Is Selling Off Its Undersea Cable Business by Nobody: 5:12pm On Jun 03, 2019 |
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| Sirpaul(m): 5:12pm On Jun 03, 2019 |
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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 9 Likes 2 Shares |
| akaahs(m): 5:12pm On Jun 03, 2019 |
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e b like say, i ll go sell of my landed property buy that company oo. nairaland advice me pls
4 Likes |
| MANNABBQGRILLS: 5:13pm On Jun 03, 2019 |
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!! 
49 Likes 6 Shares |
| Gabson006: 5:13pm On Jun 03, 2019 |
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Torh
1 Like |
| hAlexandro(m): 5:13pm On Jun 03, 2019 |
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This thing really hit dem hard Sha
21 Likes 1 Share |
| AntiWailer: 5:13pm On Jun 03, 2019 |
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Na wa
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| borntoexcel2000(m): 5:13pm On Jun 03, 2019 |
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Bad market
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| aare07(m): 5:13pm On Jun 03, 2019 |
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X
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| ken6488(m): 5:13pm On Jun 03, 2019 |
 Very bad..... |
| MadeInTokyo: 5:14pm On Jun 03, 2019 |
With the on-going trade war between U.S and China, Hauwei is considering selling off a few assets to stay afloat in business  Donald Trump is kicking China around and nothing China can do about it Hate it or Love it USA is still the Number One World Power 65 Likes 1 Share |
| Oblitz(m): 5:14pm On Jun 03, 2019 |
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Sorry Huawei
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| PhenomenalMorgan(m): 5:15pm On Jun 03, 2019 |
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I see Huawei surviving this... Mainly by European and Asian backup... Uk, and have given them a Go with building their 5G... Asian countries would also do same, except Japan and maybe South Korea 43 Likes 3 Shares |
| Re: Huawei Is Selling Off Its Undersea Cable Business by Nobody: 5:15pm On Jun 03, 2019 |
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Tough times doesn't last. Huawei stay strong. Anyways Africa might be a great market place ,if you so consider
18 Likes 2 Shares |
| BlueAir: 5:15pm On Jun 03, 2019 |
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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
4 Likes |
| sevunteen(m): 5:15pm On Jun 03, 2019 |
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What a pity... Yoruba people 'll say, "o ma se oo"
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| Re: Huawei Is Selling Off Its Undersea Cable Business by Nobody: 5:15pm On Jun 03, 2019 |
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america controls the world
7 Likes |
| Oyerinde16(m): 5:16pm On Jun 03, 2019 |
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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...
11 Likes 3 Shares |
| Carlyboi(m): 5:16pm On Jun 03, 2019 |
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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!
27 Likes 1 Share |
| Ewedegubbler: 5:16pm On Jun 03, 2019 |
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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 ... 54 Likes |
| ken6488(m): 5:17pm On Jun 03, 2019 |
DREAMZZZ: Yeah matter of time |
| ourkobo: 5:17pm On Jun 03, 2019 |
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This America strong ooo ..
8 Likes |
| MadeInTokyo: 5:17pm On Jun 03, 2019 |
Ewedegubbler:8 bottles of Heineken for u..u truly understand World Politics 43 Likes |
| sammuell(m): 5:17pm On Jun 03, 2019 |
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USA self
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| Kreamie(m): 5:17pm On Jun 03, 2019 |
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WHo are we?
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| AllenSpencer: 5:18pm On Jun 03, 2019 |
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Lobatan Huawei will still sell China with the way it's going 17 Likes |
| GeneralPula: 5:19pm On Jun 03, 2019 |
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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.
14 Likes 1 Share |
| ken6488(m): 5:20pm On Jun 03, 2019 |
sammuell: Don't mess with USA so any time Oga bubu Is g against USA at un I fear for my country 15 Likes |
| StrikeBack(m): 5:21pm On Jun 03, 2019 |
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Trust me Huawei is playing to the gallery. Just watch 9 Likes 1 Share |
