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Huawei’s Meng Wanzhou says 5G was difficult to apply to business

Meng Wanzhou, Chief Financial Officer (CFO) of Huawei, left his home to attend a court hearing in Vancouver, Canada, on August 10, 2021.

Jennifer Gautier | Reuters

SHANGHAI – Huawei CFO Meng Wanzhou said Wednesday that applying 5G technology to business has been more difficult than he expected.

One of the promises of 5G connectivity is that beyond faster cellular connectivity for individual consumers, the technology will enable self-driving cars and factory automation more effectively.

Meng said the challenges of introducing 5G into business have been underestimated and completely different from the previous 2G, 3G and 4G generations. He said that only when 5G becomes part of the ecosystem can large-scale operations be realized.

Speaking Wednesday at the Shanghai Mobile World Congress keynote session, Meng spoke extensively about the benefits of 5G for consumption and the economy.

Chinese smartphone makers are looking to sell cloud services to specific industries such as mining and finance.

The company released figures for its cloud computing business for the first time in 2022, saying the division had revenue of CNY 45.3 billion ($6.25 billion) last year.

“Comparing MWC Shanghai and MWC Barcelona [earlier this year]One of the interesting things is that many of the case studies are universal and global,” said Digital Warfare: How China’s Tech Capabilities Will Shape the Future of AI, Blockchain, and Cyberspace. , says Winston Ma, author of

Speaking alongside the Shanghai MWC, he said the need for competition among Chinese companies could spur greater adoption of 5G.

“So I think Chinese companies are probably more prepared and more willing to test new 5G applications,” said Ma, who is also an adjunct professor at the New York University School of Law.

“But of course there will be barriers in any industry, especially traditional ones, because they have an existing ecosystem.”

Huawei 5G Ban

Last year, Huawei Largest reduction in profit for the year Since 2011, U.S. sanctions have hit the company’s business, while China’s COVID-19 response has weighed on the local economy.

In May 2019, the Trump administration put Huawei on a blacklist that restricts US companies from selling technology to Chinese companies due to national security concerns. Huawei denies posing such a threat.

The US, UK and Australia have also banned Huawei from operating on its 5G network.Earlier this month, senior EU officials recruited more members of blocks to do so. Germany is one country that has not yet restricted Huawei from local 5G networks.

Meng Huawei founder’s daughter to return to China in 2021 — After being detained in Canada for about three years at the request of the United States, in addition to being Huawei’s CFO, she is also the vice chairman and rotating chairman of Huawei’s board of directors.

— CNBC’s Arjun Kharpal and Ryan Browne contributed to this report.

Summarize this content to 100 words Meng Wanzhou, Chief Financial Officer (CFO) of Huawei, left his home to attend a court hearing in Vancouver, Canada, on August 10, 2021.Jennifer Gautier | ReutersSHANGHAI – Huawei CFO Meng Wanzhou said Wednesday that applying 5G technology to business has been more difficult than he expected.One of the promises of 5G connectivity is that beyond faster cellular connectivity for individual consumers, the technology will enable self-driving cars and factory automation more effectively.Meng said the challenges of introducing 5G into business have been underestimated and completely different from the previous 2G, 3G and 4G generations. He said that only when 5G becomes part of the ecosystem can large-scale operations be realized.Speaking Wednesday at the Shanghai Mobile World Congress keynote session, Meng spoke extensively about the benefits of 5G for consumption and the economy.Chinese smartphone makers are looking to sell cloud services to specific industries such as mining and finance.The company released figures for its cloud computing business for the first time in 2022, saying the division had revenue of CNY 45.3 billion ($6.25 billion) last year.“Comparing MWC Shanghai and MWC Barcelona [earlier this year]One of the interesting things is that many of the case studies are universal and global,” said Digital Warfare: How China’s Tech Capabilities Will Shape the Future of AI, Blockchain, and Cyberspace. , says Winston Ma, author ofSpeaking alongside the Shanghai MWC, he said the need for competition among Chinese companies could spur greater adoption of 5G.”So I think Chinese companies are probably more prepared and more willing to test new 5G applications,” said Ma, who is also an adjunct professor at the New York University School of Law.“But of course there will be barriers in any industry, especially traditional ones, because they have an existing ecosystem.”Huawei 5G BanLast year, Huawei Largest reduction in profit for the year Since 2011, U.S. sanctions have hit the company’s business, while China’s COVID-19 response has weighed on the local economy.In May 2019, the Trump administration put Huawei on a blacklist that restricts US companies from selling technology to Chinese companies due to national security concerns. Huawei denies posing such a threat.The US, UK and Australia have also banned Huawei from operating on its 5G network.Earlier this month, senior EU officials recruited more members of blocks to do so. Germany is one country that has not yet restricted Huawei from local 5G networks.Meng Huawei founder’s daughter to return to China in 2021 — After being detained in Canada for about three years at the request of the United States, in addition to being Huawei’s CFO, she is also the vice chairman and rotating chairman of Huawei’s board of directors.— CNBC’s Arjun Kharpal and Ryan Browne contributed to this report.
https://www.cnbc.com/2023/06/29/huaweis-meng-wanzhou-says-applying-5g-to-business-was-difficult.html Huawei’s Meng Wanzhou says 5G was difficult to apply to business

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