On the ground in Barcelona for MWC, I’m most struck by the looming presence of Huawei, the China-based electronics giant. But there are really two Huaweis here: The consumer electronics firm that delivers superior smartphones and laptops, and the networking infrastructure giant that is so feared by the U.S. government.

Huawei’s fate probably isn’t as uncertain as it seems these days. Even the xenophobic U.S. government has started toning down its warnings about the firm’s ties to the Chinese government and has indicated that it could be included as part of a trade deal. But Huawei and its future do indeed loom over MWC Barcelona, as Mobile World Congress is now called.