Huawei CEO hopes for reset with US from Biden administration

Huawei founder and CEO Ren Zhengfei is seen on a camera monitor during a press briefing in Taiyuan, in China’s northern Shanxi province on Feb. 9, 2021. (AFP)
Short Url
Updated 09 February 2021
Follow

Huawei CEO hopes for reset with US from Biden administration

  • Ren Zhengfei said his “confidence in Huawei’s ability to survive has grown” despite its travails across much of the western world
  • The comments come as the firm struggles under rules that have effectively banned US firms from selling it technology

TAIYUAN, China: The CEO and founder of Chinese telecom giant Huawei called Tuesday for a reset with the United States under President Joe Biden, after the firm was battered by sanctions imposed by Donald Trump’s administration.
In his first appearance before journalists in a year, Ren Zhengfei said his “confidence in Huawei’s ability to survive has grown” despite its travails across much of the western world where it is maligned as a potential security threat.
The comments come as the firm struggles under rules that have effectively banned US firms from selling its technology such as semiconductors and other critical components, citing national security concerns.
Insisting that Huawei remained strong and ready to buy from US companies, Ren called on the Biden White House for a “mutually beneficial” change of tack that could restore its access to the goods.
Continuing to do so, he warned, would hurt US suppliers.
“We hope the new US administration would have an open policy for the benefit of American firms and the economic development of the United States,” said Ren, 76.
“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.”
Ren was speaking during a visit to the city of Taiyuan in China’s northern coal belt to open a laboratory for technologies that automate coal production to boost safety in a notoriously dangerous industry.
Founded by Ren in 1987, Huawei largely flew under the global radar for decades as it became the world’s largest maker of telecoms equipment and a top mobile phone producer.
That changed under Trump, who targeted the firm as part of an intensifying China-US trade and technology standoff.
Trump from 2018 imposed escalating sanctions to cut off Huawei’s access to components and bar it from the US market, while he also successfully pressured allies to shun the firm’s gear in their telecoms systems.
The former president raised fears that China’s government could potentially use “back doors” in Huawei gear for espionage, which the company strenuously denies.
The US campaign is hurting Huawei. Once a top-three smartphone supplier along with Samsung and Apple, its shipments plummeted more than 40 percent in the fourth quarter of 2020, according to industry tracker IDC, as the supply-chain disruptions curbed production.
It fell to number five in the world in smartphones in the quarter — behind Chinese rivals Xiaomi and Oppo.

With China’s huge domestic market, Huawei will likely survive but not without major changes, said Nicole Peng, analyst with Canalys.
“They will not go away. I believe they will come back, but need to rethink the business model,” she said.
To this end, Huawei in November spun off budget smartphone line Honor to free that brand’s access to needed components.
But Ren insisted Tuesday it would hold on to its main premium phone brands.
“We have decided we absolutely will not sell off our consumer devices, our smartphone business,” he said.
Despite his apparent overture to the White House, Ren admitted it would be “extremely difficult” for Biden to lift the sanctions.
There is pressure in Washington to stay firm on China, and Biden’s commerce secretary nominee Gina Raimondo has pledged to “protect” America from potential Chinese threats, including Huawei.
Huawei is fast diversifying to encompass enterprise and cloud computing, Internet-Of-Things devices and networks, and other business segments related to the advent of 5G networks, an area of Huawei strength.
“We have more means to overcome the difficulties (we face),” Ren said.
Huawei also is building an alternative operating system after the US barred it from using Google’s Android.
But Ren appeared to shoot down recent reports that Huawei is seeking self-sufficiency in semiconductors — long an Achilles Heel for China — either by acquiring stakes in chip companies or setting up its own plant.
“Huawei won’t be investing in this ourselves,” he said.
Ren also has had to deal with the December 2018 arrest of his daughter, Huawei executive Meng Wanzhou, on a US warrant during a Vancouver stopover.
Meng, 48, faces fraud and conspiracy charges in the United States over alleged Huawei violations of US sanctions against Iran, and separate charges of theft of trade secrets.
Her trial will begin in earnest in March, after two years of legal skirmishing. She could ultimately be extradited to the United States.


The Family Office to host global investment summit in Saudi Arabia

Updated 18 January 2026
Follow

The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.