FILE PHOTO: A Huawei sign is seen outside its store at a shopping complex in Beijing, China July 14, 2020. REUTERS/Tingshu Wang
(Reuters) – Chinese telecoms equipment maker Huawei Technologies Co Ltd is focusing on its budding cloud business, which still has access to U.S. chips despite sanctions against the company, to secure its survival, the Financial Times newspaper reported.
Huawei’s cloud computing business sells computing power and storage to companies, including giving them access to artificial intelligence, and has been growing rapidly, the newspaper reported on Sunday, citing sources.
In January, Huawei put the unit on an equal footing with its smartphones and telecoms equipment businesses, the FT reported on.ft.com/3hHJC3Y.
The unit was stepping up its offerings and Beijing will increasingly support the company through public cloud contracts, according to the report.
The administration of U.S. President Donald Trump has restricted technology exports to Chinese companies in particular, notably Huawei, citing national security risks.
Reporting by Kanishka Singh in Bengaluru; Editing by Sam Holmes