Barron's: If Trump Bans Hikvision

**** ******* ** ***** bans ********* **** ** government ********?

**** ** ***** ********** in * *** ******* by ********* ******** ******'*:*****’* ********* ***** ** Surveillance **** ***.

****** ********** *********'* ******* government *********:

*********, ** **’* ******, is ************* ******* ** is *subsidiary ** ***** *********** ********** *****, ***** ** ******** ********** ** *** ******* **********, which raises concerns that Beijing could use its products to gather information. [emphasis added]

****, ****** ** *******, concludes:

** ***Trump ************** **** ********* from selling to government entities, it will be a drag on earnings, but won’t derail Hikvision [emphasis added]

** **** ****, ** examine ******'* ********, *** potential ****** *********** *** operationally **** ** ********* and *** ***********.

[***************]

Financial ****** ****** ***

******'*, ** * ********* publication, ** ******* ** it **** ** ********** perspective, *.*., *** **** such * *** ****** Hikvision's ***** *****? *** their ******** ** *****, as **** ****:

******** ***** ******* *** 30% ** ********* ********, with *** *.*. ********** for **** ***** **%; sales ** *** ********, Department ** ******** ********, and ***** *.*. ******** amount ** **** **** 3%.

*** ******* ******** **** Hikvision ** ******* ** notably **** **** **%, (closer ** *%, ********* both *** *** ******* sales) *** **** ** government ***** *** **** than **% ** *** US *****, ** ********* is ****** ** ***-*** commercial ***** *** ****** in ********** ****. ***********, even **** ******'* ******** higher *********, *** ********** remains. ** ***** *** a ***** ******* ** Hikvision's ******* *******. ** Hikvision *** ** **** a *********** ****** ** those *****, ** ***** still ** ****** ********** to *********'* ******** ($*+ billion) ******* ******** *****.

******, **** **** ******* for *********'* ********, ** believe ********** ** ***** might ******* *********'* ******* profitability, ***** *** **** of *****, ********* *** support *** ****** ****** in *** ********** *** dealer ****** ** ****** than ** ** ** China ***** ********* ********* sells *** ******** ************ directly.

Operational ****** ** ** ****** ****

*** *********** ****** ** the **, *** *********, however, ***** ** ****.

********* ****** ***** ** move ******** ** *** West. ***** *** ******* is *** ****** *** trunkslammer ****** *** ***** sales, ********* **** *** want **** ** ** their ******* ** *** US. ** **** ***, Hikvision *** **** ******** heavily ** ****** ** the ********** (*.*.,*,*,*).

***** ********** ******, ** any ***, ** *** US ********** ***** ******** damage *********'* ********** *********. Hikvision *** ******* **** hurt ** *** ******* removals *** **** ** the ****** ****, ** each **** **** ******* it ******* **** ***********. A *** ***** ****** that. **** ** *********'* direct ******* **** ** government ******** ***** ** low, ******* ****, * ban ***** ******** **** by ***** ******* ** enterprise *** ***** *** are ****** ********** (*.*., retired ******** ******** ********), funded (*.*., ********** ******) or *** **** ** network ***** ******* **** the ********** (*.*., ******** infrastructure *** ***** ********** facilities).

**** * *** ***** drive ********* ** *** SMB ******, * ******* where ********* *** ******* been ******* ** *************** ****** *** ***** sales. ***, ** **** point, ** ***** ********* raise *** *********** ******** of *** **** ** is ***** ** ** in *** ** ** all.

**** ***

********* *** ****** ** US ****(*.*., **********, ***, ********, DMP, *****.***, ***.). ***** few ** ***** **** sell ************* ** ** government ********, *** **** and ****** ** ****** a ******* ****** *** the ** ********** ***** cause ** ***** **** of ***** **** ** reconsider, **** ** ** was **** ** ****** to ***** ******* ********* (e.g., *****, *******, ***, etc.) *** *** *** directly ***** ** *** Chinese **********.

Diversification ******* *** ********* ** **

** ********* *** ****** strong ** *** **, it ******** **** *************** benefits ** *********. ******'* downplays **** ** *********** how *** ****** ** strong ****** ***** *** that *** ******* ********** drive *** ** *** total ************ **** ******* Hikvision. ** *** ****** that *********, ********* ** likely ** ** **** well *********** **** ** without *** ** ** the ****.

*******, ** ***** ************ spending *** ** ****, or ***** *** *** major ******** ******, ********* would **** ******* *******, given *** ******* ********* their ******** *** ******* are ** ******** ********.

*** *********, *** ** is *** **** ******* market ******** *** *** of **** *** (********* the **) ***** * video ************ ************ ***** theoretically *** *** * billion-dollar ********, ***** ***** Hikvision's ******** **** *** ($4+ ******* *******) ***** be ***** ********* *** diversification.

Justified ** ***

**********'* ****** ** ************,******'* ********** ******** *** by *** ** ************* ************** ** ******* ****** phones, ******* ********* ** easy ** *******. ***** Huawei *******'* ********** ******* and ********* *** ********** and *******, *** ***** of*********'* ******* ********** ********* and ********* *** **** ********** than ******'*. *** **** difference ** **** ********* (much ******* **** ******) has, **********, **** ***** the ***** ** *** US **********. *************, *** Hikvision, ******** **** ******'* are ********** *********'* **** in *** ** *******.

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