Hikvision Admits Ban To Become Law

Author: John Honovich, Published on Aug 03, 2018

Hikvision has admitted they expect the US government ban to become law as soon as this month.

In a new 'Special Bulletin' to dealers, Hikvision declares:

Indeed, Hikvision acknowledges that the ban may extend further than just US government contracts:

Hikvision has abandoned its attempts to defeat the bill, having spent $140,000 lobbying the last two months, now trying to mitigate the impact from its impending passage into law:

Hikvision is deploying the necessary resources to mitigate any potential negative impact.

We will also work with the U.S. Government on the implementation of this legislation to minimize the impact it may have on our partners.

While they hope for mitigation, cutbacks are already occurring, Hikvision has dropped their large ASIS GSX booth and more cuts are likely coming.

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China Government Owned Hikvision

However, Hikvision protested the decision objecting to a lack of proof of "potential security risks". Of course, the risks are obvious - their ownership and control by the Chinese government:

While Hikvision avoids discussing this, surely the PRC would not allow equivalent practices. Indeed, the Chinese government has determined foreign video surveillance to be a security risk.

Back In China 'Beaten'

Meanwhile, Hikvision and Dahua have "taken a beaten" according to leading Chinese publication SCMP:

However, Hikvision issued an investor statement declaring:

The above relevant contents of the bill will not have a material impact on the company's business.

该法案中的上述相关内容,并不会对公司业务造成实质性的影响。

Hikvision's valuation has dropped ~$5 billion in the 2 days since Congress passed the bill.

4 reports cite this report:

Hikvision President Addresses AI and USA Challenges on Oct 31, 2018
In frank recent China interviews, Hikvision's President Hu Yangzhong has addressed challenges impacting the video surveillance industry and...
China Is Not A Security Megatrend, Says SIA on Oct 19, 2018
The US Security Industry Association has released its 10 "Security Megatrends" for 2019. SIA declares that these megatrends, such as "Advanced...
Trump Administration Considers Sanctions Against Dahua and Hikvision on Sep 11, 2018
The Trump administration is considering sanctions against Dahua and Hikvision for their involvement in human rights abuses against minorities...
US House Passes Bill Banning Gov Use of Dahua and Hikvision on May 24, 2018
UPDATE August 2018: The bill has now been signed into law. The US House of Representatives has passed H.R. 5515, a bill that includes a ban on the...
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