Chinese technology giant Huawei Technologies said on Tuesday it expects revenue to exceed $100 billion this year as compared with $92 billion in 2017.
Huawei generates revenue from three main focus business areas: telecom equipment, smartphones and enterprise networking products.
Huawei became the second largest smartphone maker in the world by beating US-based Apple. Huawei is already the number one telecom network equipment supplier with over 28 percent share — ahead of Nokia and Ericsson.
Huawei earlier said it has secured more than 25 commercial contracts for 5G network, the largest in the world.
The company has shipped more than 10,000 base stations for the fifth generation of mobile communications, Rotating chairman Ken Hu, speaking at a press conference at the company’s campus in Dongguan in southern China, said.
$2 bn on cybersecurity
Huawei Technologies will spend $2 billion over the next 5 years to focus on cybersecurity by adding more people and upgrading lab facilities, Reuters reported.
The strategy of Huawei Technologies, which expects $100 billion revenue in 2018 against $92 billion in 2017, is to battle global concerns about risks associated with its network gear for mobile operators.
Countries such as the US, UK, Germany, Australia, New Zealand, Japan, among others, have banned / may ban 5G equipments from Huawei.
Recently, Canada arrested Huawei CFO Meng Wanzhou – also the daughter of its billionaire founder Ren Zhengfei at the request of the United States. She was released later on bail.
“Locking out competitors from a playing field cannot make yourself better. We think any concerns or allegations on security at Huawei should be based on factual evidence,” its rotating chairman Ken Hu said. “Without factual evidence we don’t accept and we oppose those allegations.”
Huawei has been communicating with governments worldwide regarding the independence of its operation, he said. He added that Japan and France had not formally banned its telecom equipment. Recent media reports have indicated moves by these governments to shun the company’s equipment.
At the tour of Huawei’s Shenzhen headquarters on Tuesday, journalists glimpsed some of Huawei’s most advanced R&D labs housed in a three-storey building with a white facade and four columns, referred to by insiders as the “White House”.
Huawei has secured more than 25 commercial contracts for 5G, slightly above the 22 the Chinese technology giant had announced in November.
The company has shipped more than 10,000 base stations for the fifth generation of mobile communications, he said, adding that Huawei expects revenue to exceed $100 billion this year – up 8.7 percent from last year.
Huawei is the world’s largest supplier of telecommunications network equipment and second-biggest maker of smartphones. Unlike other big Chinese technology firms, it derives half its revenue from overseas.