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Do we like Huawei?

Telecoms gear, phones, cloud and AI chips maker, based in Shenzhen, China

Our score: 3 out of 10. Big tech and employee-owned, but we wouldn't back a firm on trial in the US for racketeering and sanctions-busting. It denies the charges and the verdict is still to come.

Ren Zhengfei started Huawei in 1987 with the equivalent of about $3,000 after working in China's military and at an oil company, per Forbes. It's now one of the world's biggest telecoms-equipment and phone makers. It has never listed on a stock exchange.

Huawei says it's private and owned by its employees. Fortune noted Ren officially holds about 1.4%, though this was in a 2018 article. Board leadership rotates between executives every six months, with Ren still listed as CEO.

The big drama is a US criminal trial in Brooklyn that began on 9 September 2026. Prosecutors accuse Huawei of a two-decade racketeering pattern: stolen trade secrets, bank and wire fraud, and dodging Iran sanctions. Huawei pleaded not guilty and denies wrongdoing.

Prosecutors rested on 28 October after 61 witnesses, and Huawei is now presenting its defence. Its lawyers argue a company this innovative had no need to steal secrets. The jury hasn't ruled, so the charges remain allegations.

We score it 3. The tech is serious and the ownership is unusual. But with a live criminal trial, bribery probes in Europe and long-running security worries among Western governments, we wouldn't put our money in yet.

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