Stock market quotes, forex, financial news, forex tools – money-investing.com

This year Huawei expects the revenue of $ 100 billion

 Breaking News
This year Huawei expects the revenue of $ 100 billion
December 21
09:00 2018

According to the Financial Times, despite the trade conflict and scandals about the safety of the equipment produced, Huawei expects to increase the revenue to $ 100 billion.

Ken Hu, CEO of the company, has already announced that Huawei is the leader in the number of contracts for 5G Internet. Now the company owns a fifth of such contracts.

Mr. Hu noted that despite the attempts to create fears and political interference in the industry, the company continued to grow and the customers trusted it.

The States and several other countries have stopped using the Huawei technology, explaining that they protect important government information and infrastructure, to which the Chinese authorities can gain access.

At the moment, Huawei has delivered more than 10,000 base stations to work in 5G Internet. Next year, the company will release the first devices that support 5G.

“To dispel security concerns, you just need to recall the history of Huawei. There were no such precedents in it,”-said Ken Hu. “The company had no requests from the government authorities that could harm foreign customers,” he continued.

Ken Hu said that Huawei would increase investment in the security. About two billion US dollars will be allocated for these purposes.

According to the management, the arrest of the financial director will not affect the work of the company and its financial results.

Huawei began its work in 1987. Because of the biography of  the Chinese military Ren Zhengfei, who was the founder of the company, the company could not work in developed countries. Now three CEOs run the company and they are replaced every 6 months. Huawei is supervised by the employees. Its shares are not in free circulation, but reports are regularly published so that the global regulators do not have any concerns.

Russia was the first foreign market of Huawei. The company came to this market in 1997. It supplies the equipment for creating networks to all leading operators of the Russian Federation.

Huawei has contracts in 140 countries.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment