Monday, June 17, 2019
Home Tech After Huawei is now Hikvision in the sights of the US authorities

After Huawei is now Hikvision in the sights of the US authorities

Hikvision

The group claims to be the world's largest manufacturer of video surveillance equipment.


(Photo: Reuters)

ShanghaiAnother tech company from China threatens a blacklist of the United States. Following US sanctions on network outfitter and smartphone maker Huawei, the US authorities are also reviewing restrictions on video surveillance company Hikvision, the New York Times reported Tuesday.

Like Huawei, hurdles could be imposed on the company when buying US technologies. In addition, American companies may in the future require government approval if they wish to continue supplying the Group. This raises fears of a further escalation of the trade dispute between the US and China.

A manager of Hikvision said that the group had not been informed about imminent US sanctions. The tech company is also not dependent on deliveries from the US. "The chips used by Hikvision are very common and most suppliers are even in China," said the executive, who did not want to be mentioned.

The US presidential office did not comment. The Bloomberg agency, citing insiders, told the US government to blacklist Hikvision and security outfitter Zhejiang Dahua Technology and other companies.

Hikvision has a market capitalization of more than $ 37 billion and is said to be the world's largest manufacturer of video surveillance equipment. The surveillance cameras are mainly used in China.

Jefferies analyst Rex Wu estimated US sales to be only around five percent. The reports of imminent sanctions still weighed on the stock market prices of Hikvision and Dahua. 42 percent of the Hikvision shares are held by state-owned companies.

The US had blacklisted Huawei last week for allegedly threatening espionage. Companies need a license to do business with the Chinese group. The Google mother alphabet stopped according to insiders then the transfer of components and programs for Huawei. Thus there are no more updates available for the operating system Android.

However, to lessen the impact on consumers, the US government granted Huawei a three-month reprieve early in the week.

. (TagsToTranslate) USA (t) China (t) Engineering Company (t) Huawei (t) Hikvision (t) Video Surveillance Company (t) US sanctions (t) trade dispute (t) Foreign Trade Policy (t) trade sanction (t) Foreign investment (t) Foreign trade with land (t) Foreign trade (t) Foreign investment by country (t) Crime (t) Protectionism (t) Jefferies & Company Inc (t) Alphabet (t) Google

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