Ren Zhengfei, founder and chief executive officer of Huawei, said the company will invest $100 billion in reshaping network architecture in the next five years.
Huawei said the additional investment will help the Chinese telecom equipment maker to create a simple, fast, secure, and more trustworthy network for its customers. The recent controversies have negatively impacted the company’s business and it is expecting $10 billion drop — mainly due to poor demand for smartphones — in its revenue in 2019.
“The company will not be crushed by U.S. restrictions. In fact, we are doing even better than before,” the CEO said during an interview.
Huawei’s revenue reached CNY401.3 billion in the first half of 2019, growing at 23.2 percent over the same period last year. Huawei generated CNY220.8 billion from consumer business, CNY146.5 billion from carrier business and CNY31.6 billion from enterprise business during the first half of 2019.
Huawei, the world’s largest telecom network maker and the second largest smartphone company, will conduct its Asia-Pacific Innovation Day on September 3 in Chengdu, China to explore innovative and meaningful applications of technologies such as 5G and Artificial Intelligence.
The technology company will invest CNY120 billion in R&D this year, according to its H1 report.
Huawei will unveil its Kunpeng Ecosystem Base. Latest innovations such as 5G telemedicine and AI application for children with hearing loss will be showcased at the event.
According to the company’s 2018 Sustainability Report, innovative technologies have made Huawei’s 5G more energy-efficient, reducing the power consumption per 5G site to 20 percent less than the industry average.