Here's everything you need to know about Huawei, the Chinese tech giant whose founder's daughter was arrested and which could be the spark to an all out trade trade war

meng wanzhou

  • Huawei, a Chinese tech giant, is making headlines after one of its top executives, Meng Wanzhou, was arrested in Canada at the request of the U.S. this week.
  • Huawei is the second-largest smartphone maker in the world, behind only Samsung. 
  • Meng was reportedly arrested on suspicion of violating U.S. trade law by exporting products from the U.S. to sanctioned countries like Iran.
  • The arrest could have bigger implications for Huawei, whose practices have been the subject of a yearslong federal investigation, as well as for the escalating trade war between U.S. and China.
  • Here’s what you need to know about Huawei and Meng Wanzhou, and the events leading up to this incident.

Authorities in Canada have arrested the chief financial officer of the Chinese company Huawei, reportedly on suspicion of violating U.S. trade sanctions on Iran. 

For Americans, Huawei may not be a familiar name. But the tech giant is actually the second largest smartphone manufacturer in the world, behind only Samsung, after recently pulling ahead of Apple. 

This incident threatens to have major implications on the relationship between U.S. and China, which has already ordered Canada to „immediately release“ Huawei executive Meng Wanzhou.

Here’s what you need to know about Huawei, Meng Wanzhou, and how this arrest could escalate the U.S. trade war with China. 

Huawei is a massive tech company producing telecommunications services, enterprise tech, and consumer devices, like smartphones. The company sells its products in more than 70 countries.

Source: Huawei

The company raked in almost $93 billion in sales last year, which puts it about on par with Microsoft. Huawei is the largest maker of telecommunications equipment in the world, and the world’s second largest smartphone manufacturer behind Samsung.

Source: Business Insider, Forbes

Huawei was founded by Ren Zhengfei in 1987, and he still serves as an executive in the company. Before Huawei, Ren worked as an engineer for China’s military, the People’s Liberation Army.

Ren is known internally as a philosopher entrepreneur, fond of proverbs and symbolism.

 

Source: Huawei

See the rest of the story at Business Insider
Source: Business insider

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