Huawei secures over 25 commercial 5G contracts, to spend $2bn on cyber-security
Chinese technology giant Huawei Technologies said it has secured more than 25 commercial 5G contracts, the largest in the world, and has shipped more than 10,000 base stations for the fifth generation of mobile communications.
TheNewsGuru (TNG) reports Huawei’s rotating chairman, Ken Hu made this known while speaking at a press conference at the company’s headquarters in Shenzhen on Tuesday, saying the company expects revenue to exceed $100 billion this year, as against revenue of $92 billion in 2017.
The Chinese company also said on Tuesday that it would be spending $2 billion over the next 5 years to focus on cybersecurity by adding more people and upgrading lab facilities, as it battles global concerns about risks associated with its network gear.
The typically secretive Chinese technology giant made the comments at one of its most in-depth press conferences at its Dongguan offices, after welcoming about two dozen international journalists into its new campus in the southern Chinese city.
Huawei has been in the news these past weeks for the arrest of its chief financial officer Meng Wanzhou, daughter of its billionaire founder Ren Zhengfei, in Canada at the request of the United States.
This has exacerbated the woes of the Chinese firm, which has already been virtually locked out of the US market and has been prohibited by Australia and New Zealand from building 5G networks amid concerns its gear could facilitate Chinese spying.