(Yicai Global) Aug. 31 -- Huawei Technologies’s first-ever major sporting sponsorship is coming to an end due to the negative business environment for the Chinese firm in Australia.

The Canberra Raiders deal that was supposed to last until the end of next year’s season has been called off as the "continued negative business environment is having a larger than originally forecasted impact on our planned revenue stream," the Shenzhen-headquartered company said in a statement today.

The logo of the telecoms firm, which has been a major sponsor of the professional rugby team since 2011, will be re-located to the back of the Raiders jersey. Huawei will retain the naming rights of the new Huawei Raiders Training Centre in Canberra.

In September 2018, the Australian government announced that Huawei will be removed from its fifth-generation wireless network partner list.

Editor: Emmi Laine