Home ›› 02 Apr 2023 ›› World Politics
The daughter of Huawei’s billionaire founder, Meng Wanzhou will take over as rotating chairwoman as the Chinese tech giant enters choppy waters, with profits plummeting under US sanctions.
The Washington-led pressure campaign has contributed to Huawei losing its top spot in the smartphone market and has throttled its supply chains.
After Huawei’s Friday announcement that its 2022 net profits had plunged 69 percent compared to the previous year, Meng struck a defiant tone at a press conference.
“We might not be successful in the end, but being placed in a fatal impasse, we have no choice but to go all in and fight, with all hands on deck,” she said.
The 51-year-old is not new to being on the front line of the US-China tech war.
In 2018, she was arrested in Canada at the behest of the United States on fraud charges relating to her alleged efforts to hide violations of US sanctions on Iran involving Huawei affiliate Skycom.
She remained under house arrest in Vancouver for almost three years while fighting extradition, with the case becoming a major thorn in relations between the three countries. She was allowed to return to China in September 2021, and in December 2022, the US Justice Department dropped all charges against her.
