5 Companies That Had A Rough Week

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Huawei Reportedly Loses Smartphone Distribution Deal With Verizon

Efforts by the Chinese tech giant Huawei to expand within the U.S. apparently encountered another obstacle this week when telecom carrier Verizon reportedly backed out of a deal to sell mobile phones manufactured by Huawei in the U.S.

Verizon reportedly backed away from the deal because of fears from U.S. government agencies and lawmakers around Huawei's suspected ties to Chinese espionage efforts, an issue that has plagued the company and its efforts to expand within the U.S. for years.

Huawei was said to be counting on the Verizon partnership to sell its Mate 10 Pro smartphone in the U.S. in competition against Apple's iPhone and Samsung mobile phones.

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