No. Many western countries have clearly stated or suggested that they will prohibit Huawei from becoming their core 5G network equipment supplier, but this will not impede the firm's progress.

Huawei is still growing rapidly in emerging markets and business areas. Guo Ping, rotating chairman, said at the end of last year that the company has secured 26 5G contracts worldwide, making it the largest supplier in the field.

Many operators have admitted that replacing Huawei's equipment will be pricy despite the vast array of alternatives.