In the wake of an attack on the White House by Chinese hackers, potentially working for the Chinese government, cybersecurity tensions are high between the U.S. and China. Unsurprisingly, the new report focuses on the Chinese cybersecurity threat to American customers and businesses.Huawei and ZTE representatives claim the report is "baseless" and a "political distraction".
The report singles out two top Chinese equipment manufacturers -- ZTE Corp. (SHE:000063) and Huawei Technologies Comp. (SHE:002502) -- suggesting that U.S. lawmakers take the unusual step of banning the Chinese companies' products from the market.
Globally, ZTE is the fourth largest maker of mobile phones, while Huawei is sixth. In the routers, switches, and telecommunications market, Huawei is the world's second largest company in revenue, while ZTE ranks fifth. Both companies are looking to expand their sales base in the U.S.
US lawmakers want to ban ZTE and Huawei smartphones and routers
Posted on Monday, October 08 2012 @ 22:37 CEST by Thomas De Maesschalck