FRENEMIES: Huawei, Seen as Possible Spy Threat, Boomed Despite U.S. Warnings. “Chinese telecom giant has gobbled up huge global market share; now Washington is warning anew about alleged spy threat as U.S. telecoms embark on $275 billion 5G network build-out.”

Since 2012, Huawei has expanded to 170 countries from 140, and now claims 45 of the world’s 50 biggest wireless carriers as customers. Huawei, which also runs a popular smartphone brand, made $75 billion overall in 2016. About $26 billion came from its telecom equipment and software business, making it the leader in the $126 billion-a-year global market, according to research-firm IHS Markit Ltd.

Huawei’s dominance is again stoking fears among Washington security and intelligence experts, who worry major U.S. carriers might be tempted to turn to Huawei.

Last month, members of the Senate and House intelligence committees sent a letter asking the Federal Communications Commission to review any relationship with Huawei and requested that the FCC get briefed on the security concerns raised in 2012. The letter also raised concerns about Huawei’s growing smartphone business, now the world’s No. 3 brand behind Samsung Electronics Co. and Apple Inc.

It feels a bit like buying satellite telecom equipment from the Soviets in the early ’80s.