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Cyber Daily: Who’s Winning the 5G Races
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Hello. Once a glimmer in the eyes of executives from Shenzhen to Silicon Valley, 5G now dominates a broad swath of the global supply chain—and the competition to control different parts of it is heating up.
Government officials from various nations play a key role in the global competition, determined to support their 5G industries for economic and geopolitical reasons. Their subsidies and mandates stem from a worry that whichever country dominates the 5G economy will reap the economic rewards for decades to come, The Wall Street Journal reports.
Equally important are their pronouncements about national-security worries linked to certain providers, especially those in China.
This and other news below.
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CONTENT FROM OUR SPONSOR: Netscout
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New Threats To Our New Normal
Recent years have shown us that the future is unpredictable, and cybercriminals have capitalized on it. Being prepared requires developing both short and long-term strategies that put security first.
Read More
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Early advances in China include 5G-supported mining, in which autonomous machines enabled by the speed and capacity of 5G networks travel deep into coal mines and other dangerous locations in place of humans. The capabilities were jointly developed by China Mobile and Huawei.
PHOTO: MARK SCHIEFELBEIN/ASSOCIATED PRESS
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Heated competition: China’s Huawei Technologies Co. continues to lead the $90 billion-a-year market for telecommunications equipment, as it has for the past several years. But others are gaining ground, as Huawei faces restrictions from governments around the world thanks to Washington’s campaign to stifle sales of the company’s equipment over cybersecurity concerns.
Sweden’s Ericsson AB increased its market share to 15% in the first half from 14.7% last year, putting it in second place. Ericsson has warned that it could lose market share in China as a result of Swedish regulators’ decision last year to ban Huawei from the Scandinavian country’s 5G wireless networks. Chinese officials have threatened to retaliate.
The U.S. has sought to foster alternative 5G tech to steer business away from Huawei and ZTE Corp., another Chinese vendor. The U.S. promotes Open RAN, a new technology based on open standards that promises lower-cost equipment and more flexibility. But such vendors still control just a fraction of the market share for 5G equipment.
Read the full story.
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More Cyber and Privacy News
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PHOTO: ERKAN AKKAYA/ANADOLU AGENCY/GETTY IMAGES
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Proposed privacy fine for Facebook: A draft decision from Ireland's privacy watchdog in an investigation of Facebook includes a proposed fine of up to 36 million euros, about $42 million. Privacy activist Max Schrems filed a complaint accusing the social media company of violating the privacy rights of users by tracking people's online behavior and releasing that data to other firms, among other activities. Mr. Schrems's group published the draft document Wednesday. The proposal now must be evaluated by other European regulators. (Reuters)
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PHOTO: VIRGINIA MAYO/POOL/SHUTTERSTOCK
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Ransomware summit: Jake Sullivan, U.S. national security advisor, opened a 30-nation cybersecurity summit hosted Wednesday by the White House saying that "no one country, no one group can solve this problem," referring to rampant ransomware attacks. U.S. allies and others pledged to work together on law enforcement, cryptocurrency-monitoring and other initiatives, but no concrete steps were announced. (CyberScoop)
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Australia, which attended the summit, separately discussed its plan to force ransomware victims to report details of the attacks as well as to intercept crypto transactions linked to cybercrime. The Australian Federal Police will hire 100 more agents as part of the strategy. (Bleeping Computer)
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PHOTO: MIKHAIL TERESHCHENKO
/ZUMA PRESS
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Where investors are putting their money: Several cybersecurity and risk-management startups raised funds recently, pointing toward markets where investors see growth. They include:
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Boston-based Black Kite, which rates organizations' cyber risk, received $22 million in a B round. Volition Capital was the lead investor. (Security Week)
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Shift5, a provider of security tools for weapons and transportation systems, raised $20 million in an A round. (Security Week)
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Cloud-security company Wiz received $250 million in Series C funds, co-led by Insight Partners and Greenoaks Capital. (MSSP Alert)
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