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Huawei Technologies Chief Financial Officer Meng Wanzhou reacts as she leaves her home for a court hearing in Vancouver, Canada, August 10, 2021.
Jennifer Gautier | Reuters
Shanghai — Huawei’s chief financial officer Meng Wanzhou said on Wednesday that implementing 5G technology in business has been more difficult than she expected.
One prediction of 5G connectivity is that beyond faster mobile connections for individual consumers, the technology can enable better self-driving vehicles and factory automation.
Meng said that the challenges of bringing 5G into business have been underestimated and that it is very different from the previous 2G, 3G and 4G generations. She said only when 5G becomes part of the ecosystem can it be possible to realize large-scale operations.
Meng was speaking at a keynote session at the Mobile World Congress Shanghai on Wednesday, where she spoke extensively about the benefits of 5G for consumption and the economy.
The Chinese smartphone maker has sought to sell cloud services to specific industries such as mining and finance.
The company disclosed its cloud computing business figures for the first time in 2022, and said unit revenue reached CNY45.3 billion ($6.25 billion) last year.
said Winston Ma, author of Digital Warfare: How China’s Technological Power Is Shaping the Future of AI, Blockchain, and Cyberspace.
Speaking on the sidelines of the Shanghai MWC, he said that Chinese companies’ need to compete could spur greater adoption of 5G.
“So I think maybe Chinese companies are more willing, more willing to test new 5G applications,” said Ma, who is also an assistant professor of law at New York University.
“But of course there will be barriers to any industry, especially for traditional industries, that has its existing ecosystem.”
Huawei 5G is prohibited
In the past year, Huawei has experienced The largest annual drop in profit since 2011 as US sanctions hit its business and China’s Covid-19 controls weighed on the local economy.
In May 2019, the Trump administration placed Huawei on a blacklist that bars US companies from selling technology to the Chinese company due to national security concerns. Huawei denied posing such a threat.
The US, UK and Australia have also banned Huawei from operating in their 5G networks. Earlier this month, a senior EU official called on more members of the bloc to do so. Germany is among the countries that have not yet restricted Huawei from the domestic 5G network.
Meng, the daughter of Huawei’s founder, returned to China in 2021 – after nearly three years of being detained in Canada at the request of the United States. In addition to being Huawei’s chief financial officer, she is also Huawei’s vice chairman and rotating chair.
— CNBC’s Arjun Karpal and Ryan Brown contributed to this report.
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