BEIJING: Chinese telecom colossus Huawei, which has substantial investment in India, has disclosed its financial performance – part of a strategy to boost transparency and allay security apprehensions of the countries the company operate in.
Cathy Meng, Huwaei’s CFO, told reporters in Beijing Jan 21 that the annual profit surged 33 per cent to $2.4 billion. (15.4 billion yuan). This is the first time Huwaei has gone public with its rising fortunes, a calibrated plan to what its CEOP described as honoring “our commitment to transparency.”
The company has been suspected by some Western governments of spying and links with the all-powerful Communist Party of China.
Last year, in a bid to allay security concerns, Chinese vendors Huawei and ZTE said they were willing to offer the Indian government unrestricted access to the software source codes of all their products.
The Indian government is taking a close look at a report by the US Congress Panel that shows that the two technology majors from China have close links with that country’s government and military and must be barred from mergers and acquisitions in the US.
- India Writes Network (www.indiawrites.org) is an emerging think tank and a media-publishing company focused on international affairs & the India Story. A venture of TGII Media Private Limited, a leading media, publishing and consultancy company, IWN has carved a niche for balanced and exhaustive reporting and analysis of international affairs. Eminent personalities, politicians, diplomats, authors, strategy gurus and news-makers have contributed to India Writes Network, as also “India and the World,” a magazine focused on global affairs. The Global Insights India (TGII) is the research arm of India Writes Network. To subscribe to India and the World, write to email@example.com
- India and the World2021.10.20India, EU review 2025 roadmap, agree to advance FTA talks
- India and the World2021.09.30Quad set to grow stronger, more focus on economic than China
- Diplomacy2021.09.27Webinar: Eminent diplomats, experts to map post-summit future of Quad
- Diplomacy2021.09.25Quad summit bats for free, open and inclusive Indo-Pacific