Huawei's new net worth after US ban
Image source: techradar.com Beginning in 2018, the US government has taken on a tougher stance on Huawei technologies, a Chinese telecommunications manufacturing company which has just recently overtaken Samsung as the biggest maker of phones in the world. Huawei technology had seemingly painted a target on its back thanks to reports from intelligence agencies that the company’s devices have backdoors for Chinese spies. This prompted US president Donald Trump to issue a ban on the company for national security according to Steven Sorensen Networth . Huawei had gained some breaks since the ban with the President Trump allowing some companies to continue selling commodities like chips to Huawei but the US government has since rescinded these exceptions. The company has suffered around $30 billion in 2019 and the company’s CFO has also been extradited to the US based on charges. Despite these setbacks, Huawei did not plummet but posted a $64.8 billion in profits on the strength of i