Any US government official looking at Huawei’s recent financial performance must feel vindicated.
Washington’s efforts to destroy the Chinese technology group appear to be working: Huawei’s revenues are in free fall, the premium smartphones it launched in late July do not work for 5G, and it is forced to sell off parts of its business. For the next five years, according to chair Eric Xu, the company’s sole goal is survival.
But policy experts caution that the US is in no position to declare victory in its “technology war” with China. In fact, among hundreds of Chinese technology companies which the US Department of Commerce has targeted with sanctions, Huawei is the only one fighting for its life.
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