The US Is Back in the 5G Game

The US government has upended the $35 billion-a-year cellular-equipment industry, ushering in a new era of competition and giving US companies a shot at re-entering a sector they vacated years ago. Pushed by Washington’s campaign to cripple Huawei over cybersecurity concerns, countries representing more than 60% of the world’s cellular-equipment market are considering or have already enacted restrictions against Huawei. And to take advantage of that opening, the US government—as well as governments in the UK and European Union—are considering financial support and other measures to boost domestic cellular-equipment makers trying to crack the three incumbents’ stranglehold on the market. The result is a newly competitive market that is reminiscent of the 1990s, when bygone industry giants such as Lucent, Motorola, Nortel, Siemens and Alcatel fought for a piece of a growing telecom-equipment pie.