I'm not sure that's true - mainly because of some potentially big European customers in government or national infrastructure. They care enough about security and reliability, that they'd very likely choose a European provider over a US one, especially if the existing political climate continues.

Companies don't need anywhere near the profits of Google to cover continuous development and maintenance, so while a European tech giant of the size of Google might not seem that likely, a European office suite certainly is more likely.

Bert Hubert has previously written about how the entire European telecoms industry with the exception of Britain has outsourced not only equipment but also network operations to Huawei:

https://berthub.eu/articles/posts/5g-elephant-in-the-room/

European national infrastructure providers don't care.

I work in this, not everyone is so deep in cahoots with Huawei.