Huawei presents two big problems
First, they are a chinese company. There are laws on the books that require all Chinese people and businesses to assist in spying on the west. So there's that.
Second, they are IP thieves. I worked for a large semiconductor some time back and we had a number of our designs not just copied but outright stolen by Huawei.
In the case of the second issue, it's easy to see why it's so cheap: low R&D costs. In the case of the first, well there's always a cost for something, and clearly spying is a great opportunity to sponsor.