Huawei Technologies Co.
The shock arrest of Huawei Technologies Co.’s chief financial officer as she switched planes in Canada is disturbing all Chinese executives, according to Zhang Ruimin, chairman and chief executive officer of household appliance maker Haier Group.
Wanzhou Meng, the chief financial officer and deputy chairwoman of Huawei Technologies Co., has been arrested in Vancouver and is facing potential extradition to the U.S. as American authorities investigate the company for potential violations of Iran sanctions.
Huawei Technologies Co. pulled ahead of Apple Inc. to claim the No. 2 position in global smartphone shipments in the second quarter just behind Samsung Electronics Co. Bloomberg Opinion's Alex Webb assesses the impact of Chinese competitors on Apple and other challenges facing the iPhone maker on "Bloomberg Markets: European Open."