SECURITY CONCERNS HOLD BACK HUAWEI
Huawei’s attempts to expand in the US continue to be hampered by security concerns of the US government. The company declined to respond to questions by FT on how it plans to persuade US officials that it is trustworthy. Huawei is said to be bidding on a tender to obtain a major network expansion contract with Sprint Nextel, is considered a contender for a Motorola contract, and could potentially become a 4G network vendor to Harbinger, the US hedge fund holding spectrum rights, writes FT.
SAMSUNG FORECASTS RECORD QUARTER
Samsung forecasted record operating profit for the second quarter on Wednesday. Samsung, which reported KRW136,290 billion (USD117.8 billion) in sales for the 2009 calendar year, has surpassed HP to become the world’s largest technology company by sales. HP has said it expects full-year sales this year to increase by over eight percent to USD124.9 billion. FT also writes that it is Samsung’s semiconductor division that should account for just over half of the company’s operating profits this year, from less than a quarter of sales.