According to their 2018 financial report released today, Chinese telecommunications firm Huawei surpassed US$100 billion in revenue for the first time
, previously having been lauded all around for its success and prowess. The company was also able to grow its market share throughout the consolidation of the Chinese smartphone market that has been decreasing in volume since 2016.
But when the United States Justice department unsealed its cases against smartphone maker in January, it left the reputation of China’s rising tech star tarnished. The case against the company that holds a 27 percent market share in China
includes a slew of allegations including the stealing of trade secrets from competitor T-Mobile and skirting U.S. sanctions against Iran.
The scandal has proven those wary of Chinese companies in international cooperations right. Several countries, including the U.S., have banned Huawei products in the aftermath of the scandal with several more expected to follow suit. Especially the implementation of new 5G networks, for which Huawei is a possible supplier, have caused heated discussions.