Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

US investigates Huawei for stealing trade secrets

The US is launching aggressive measures against Chinese technology giant, Huawei for allegedly stealing trade secrets.

US investigates Huawei Source: Bloomberg

US federal authorities in Seattle are investigating Huwaei for allegedly stealing trade secrets from US companies.

The investigations are tied to a T-mobile case that was settled in 2017, according to Wall Street Journal sources. A federal jury found Huawei liable for theft of T-Mobile’s robotic technology.
Sources say the investigations have progressed to the stage that an indictment could come shortly, as reported by Wall Street Journal.

Spokespeople for both the US attorney’s office in Seattle and Huawei declined to comment.

Huawei under the pressure over Meng arrest

The US and Europe have put pressure on Huawei amid growing concerns that Beijing could be using technologies for spying, but Huawei has denied the claims.

It comes after the company’s CFO Meng Wanzhou was arrested in Canada in December last year, for allegedly conspiring to defraud banks into clearing transactions linked to Iran in violation of US sanctions.

Meng was released on bail a month ago and is awaiting an extradition hearing to the US.

Investigations tied to Huawei theft from T-mobile.

The US investigations will determine whether Huawei stole information from T-Mobile when one of its engineers visited its lab in Washington.
Sources say the visit was to see a diagnostic robot called “Tappy”.

In a lawsuit in 2014, the jury awarded T-Mobile $4.8 million in damages for breach of contract, after it alleged a Huawei engineer stole one of the robot’s fingertips and put it his laptop bag during the visit.

T-Mobile also claimed Huawei also stole source codes and other trade secrets from other US companies.

Huawei is set to face further restrictions in the US, after lawmakers introduced new bills that would ban the sale of some of the US tech hardware to the Chinese company.

Both Democrats and Republicans put the bills forward on Wednesday, and if passed, could mean the block of the sale of US chips and parts to Chinese telecom companies that have violated US sanctions, which includes Huawei.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.