State investment fund is helping Huawei build its chip network

News Snapshot:

Beleaguered Chinese tech giant Huawei, which experienced major setbacks in recent years due to US sanctions, is back with a renewed focus and determination. China’s powerful local smartphone supply chain, particularly the chip industry, has helped the firm stand up and fight. It is aiming to double its smartphone sales in 2024. According to Bloomberg, a state investment fund has backed Huawei as it builds a robust self-sufficient chip network. Huawei is using a state investment fund in its efforts to bypass US sanctions In May 2019, the US government added Huawei to the Entity List, a list of foreign...