Trending

Stories

Huawei to refrain from expanding its business areas

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Many of the Chinese tech companies have broadened its horizon to surpass the constraining boundaries of manufacturing only smartphones and the like, and have invested in and started various business ventures over the years.

This not only has increased the revenue for the companies but also have made living smarter in ways hitherto unimaginable. One such company is Huawei who like many of its Chinese counterparts and has ventured into various businesses. In a shocking move, however, recently, the Huawei Founder and CEO Ren Zhengfei mentioned that henceforth the company will not expand its business areas.

Although the expansion of its business areas will be hindered, this does not mean that the company will refrain from expanding its electronic wing. Huawei has confirmed that the company will go ahead to expanding the use of electronic systems and software computing systems in different industries. On the other hand, Ren Zhengfei has also mentioned that the company can help the coal industry achieve maximum efficiency and ensure safety at the expense of fewer people.

Although the move may appear to be sudden, it is by no means surprising.

The Chinese firm, Huawei is still battling the constraints put on the company by the Donald Trump administration in the US. The imposed ban has strengthened the company’s confidence that it will continue to grow and survive all on its own despite its travails across much of the western world where the company has been deemed as a potential security threat.

The decision not to expand its business could also be a by-product of the ban, but Huawei has refrained from commenting on it. On the other hand, Ren Zhengfei has implored the Biden administration to change track on the company and maybe even loosen the ban, after saying that the firm’s production capacity can be expanded.

As such Ren Zhengfei is hopeful that the relations between the US and the Chinese company could be rebuilt. Ren has expressed his willingness to speak with President Biden. Citing the need for economic growth both for the US and China, Ren mentions that he is welcoming to the idea of a phone call with President Biden discussing the joint development and shared success.

Ren mentioned, “I believe that’s going to be mutually beneficial. I believe that (the) new administration would bear in mind such business interests as they are about to decide their new policy. We still hope that we can buy large volumes of American materials, components, and equipment so that we can all benefit from China’s growth.”

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App Tesla To Increase Giga Shanghai EV Production to 20,000 Weekly 
OpenAI Releases Tool To Detect AI-generated Text Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors