To the global markets concerning about risks related to its network gear, Huawei, focusing cybersecurity, will be investing $2 billion, as said the company on Tuesday.
Over next five years, the spending will be utilized for the up gradation of its labs facilities and for hiring new human resources.
Huawei’s press conference on Tuesday at Dongguan, came up with detailed comments of the company’s stances in which more than 20 international journalists were also welcomed into Huawei’s new campus in the southern Chinese city.
For past two weeks, addition to other issues, Huawei remained highlighted in news for arrest of Meng Wanzhou, Huawei chief financial officer, in Canada as U.S. government requested. She is the daughter of Huawei’s co founder Ren Zhengfei as well.
For concerns over its gear potentially be spying for the Chinese government, Huawei has been completely excluded from the markets in United States and also been facing prohibition by New Zealand and Australia for building 5G networks, and the arrest of its CFO will be increasing its hardship.
Huawei stated its stance of not accepting the allegations without being provided by valid evidences and keep on opposing it, as said its rotating chairman Ken Hu. Ken also added that one cannot become superior by locking out its competitors from the playing field and allegations for concern over security at Huawei should be accompanied by valid proofs.
Earlier in November Huawei has announced to be getting 22 commercial contracts for 5G, which it now announced to be remain successful to get 25 contracts. For fifth generation of mobile communications, more than 10,000 base stations have been shipped by the Huawei, Ken said. Revenue of more than $100 billion is the amount, company has been expecting for this year.
Huawei ranks highest among telecommunications network equipment providers in the world and generate half of its revenue from overseas markets.