Australia is not going to back down on its decision to ban Chinese telecommunications equipment vendor Huawei Technologies from participating in the rollout of 5G networks – not until the US does so itself and gives Australia permission to do a backflip.

Chinese telecommunications equipment provider Huawei Technologies says it will suffer a drop of US$25 billion in projected revenue over the next two years, compared to its earlier forecasts, due to the American Government's actions against it.

In what is clearly a bid to rile its US detractors, Chinese telecommunications equipment giant Huawei Technologies has announced results for the first quarter — something it has never done — showing a revenue increase of 39% year-on-year.