Chinese technology group Huawei has had to replace thousands of product parts as US sanctions hit them. Company founder Ren Zhengfei admitted this during a speech in February, the transcript of which was published by a Chinese university on Friday.
Huawei, a major equipment supplier for 5G telecommunications networks, has been facing trade restrictions imposed by the United States since 2019. The US government accuses Huawei and other Chinese tech companies of enabling espionage through back doors in their technology.
But due to the limitations, Ren points out in the transcript, Huawei has replaced 13,000 parts for Chinese alternatives over the past three years. The tech group also had to redesign 4000 printed circuit boards. Ren said Huawei invested $23.8 billion in research and development last year. “As our profitability improves, we will continue to increase these expenses,” said the Huawei founder.
Last year, President Biden’s administration banned the sale of new Huawei equipment in the US. The company itself has always denied all allegations.
