https://apnews.com/543d8e395c444776a6d69b7d16693d9c

BEIJING (AP) — Chinese tech giant Huawei announced plans Wednesday to release a next-generation smartphone based on its own technology instead of U.S. components, stepping up efforts to compete with Western industry leaders in the face of Washington's warnings the company might be a security risk.

Huawei Technologies Ltd., the biggest global supplier of network switching gear for phone companies, is spending heavily to develop its own chip technology, an area where American vendors are global leaders. That can help reduce Huawei's multibillion-dollar annual bill for components and the risk of disruptions of U.S. supplies.