Xi halted Qualcomm so as to shield Huawei – report

Business | Politics | Technology 12/7/2018, 11:58 AM
Xi halted Qualcomm so as to shield Huawei – report

The trade war between the United States and China became complicated "at least in the near term" with the arrest of Huawei Technologies Co. Ltd.'s finance chief Meng Wanzhou, the Wall Street Journal learned from a source close to the government in Beijing and the insider said it would "spare no effort" to protect it. Meng, who also goes by the first name Sabrina, is the daughter of founder and chief executive Ren Zhengfei, pictured right with President Xi Jinping. The country's leader blocked in July Qualcomm Inc.'s attempt to take over NXP Semiconductors NV particularly to protect Huawei, according to people familiar with the matter.

The producer of mobile devices and telecommunications gear from Shenzhen has been on a research and development offensive in the 5G networks area, vying against the world's top companies. The American side claimed China would reconsider the merger, but Qualcomm insisted the plan is abandoned.

The administration of US President Donald Trump accuses the most populous nation of breaches in intellectual property, endangering national security and illegitimate support for domestic technology giants.

Breaking the News / IT

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