Huawei attempts to sell its 5G patents to a Western company

Huawei is offering to sell its 5G technology patents, licenses, code, and technical blueprints to a Western company in a one-time-only offer.

Huawei's CEO, Ren Zhengfei, told The Economist: "A balanced distribution of interests is conducive to Huawei's survival.”

Ren said he had "no idea" who might be interested in buying and did not know how much his company would get from the transaction.

Ren also said the buyer would be free to "change the software code". That would allow any flaws or supposed backdoors to be addressed without Huawei's involvement.

The move is designed to kill concerns in the West about Huawei's 5G dominance and allegations that spying could potentially endanger US national security.

Aside from advising allies to block Huawei, the US has also hurt Huawei by placing it on a trade blacklist, though Huawei had since received two 90-day license extensions.