Legal probes would not stop Huawei from investing heavily in the U.S. because Americans needed better tech products, according to one of the top executives at the Chinese smartphone giant.
In fact, Richard Yu, chief executive of Huawei's consumer business group, said the company aimed to hold 25 percent of the global smartphone market within the next five years. And he was confident Huawei would overcome the currently combative business and intellectual property relationship between the U.S. and China to do so.
"For the U.S. consumers, they need better products and innovations," Yu told CNBC on Friday at the sidelines of Converge, a technology conference in Hong Kong hosted by the Wall Street Journal and f.ounders. "We will continue to invest in the U.S. market."
On Thursday, the New York Times reported that the
In March, the U.S. Commerce Department accused ZTE, Huawei's smaller Chinese rival, of selling products containing U.S. technology to Iran in violation of U.S. sanctions. It gave ZTE until June 30 to cooperate on resolving the matter or face an effective ban on purchasing U.S. technology.
Although the Commerce Department has not accused Huawei of wrongdoing, the New York Times report noted that a similar ban could hurt the company's ambitious expansion plans.