Huawei

The news comes as a series of trade sanctions imposed by the U.S. have all but pushed Huawei out of the smartphone market and sent its revenue into a nosedive

"We must also stop using the existing 4G equipment even though there’s never been a risk — it’s a fundamentally different product."

Public Safety Minister Marco Mendicino insists the three-year delay was due to the political and technological implications of the decision.

The federal government has announced it has banned Huawei from 5G networks in Canada.

The Chinese tech giant expects to post $99 billion USD in revenue for 2021, according to Rotating Chairman Guo Ping.

The Washington Post uncovered evidence that appears to contradict Huawei's denials of a role in China's state surveillance.

China's ambassador to Canada is calling on the federal government to approve Huawei from entering the country's 5G infrastructure.

"We ask that your government categorically reject requests for compensation from Canada’s large telecommunications companies."

While the Liberal government delayed a decision on banning Huawei from Canada's 5G networks, telecoms had already purchased over $700 million in network equipment from the company.

Both telcos have installed Huawei equipment to serve their existing older-generation networks.

The move may be the company's best chance at salvaging its smartphone business.

Prime Minister Justin Trudeau says the decision to ban Huawei or not is set for the "coming weeks".