Tuesday , December 7 2021

Huawei secures 50 commercial 5G contracts with leading telcos

The technology giant’s consumer business, Huawei has announced securing 50 commercial 5G contracts with leading global telecommunication carriers despite facing political headwinds.

Considered to be one of the leading names in the race to develop the nascent 5G technology, Huawei has continued to face mounting fears that its technology could enable Chinese espionage through those high-speed mobile networks

However, Huawei has repeatedly denied that its products represent any risk.

Nevertheless, countries like the United States, Australia, New Zealand and Japan have restricted the company’s participation in 5G development within their borders.

In May, the United States added Huawei and its affiliates to the Bureau Industry and Security List,  which effectively halted its ability to do business with American companies. Later, Washington softened its stance somewhat and the tech company could potentially be used as a bargaining chip in ongoing trade negotiations with Beijing.

Earlier in June, according to the Huawei Founder and CEO, Ren Zhengfei noted that the U.S. government had launched “precise ‘strikes’ against us, with each ‘strike’ hitting our vital parts.”

Contained in its H1 2019 revenue reports, Huawei hits 23.2% year -over-year increase in revenue for the first six months of 2019 with a total revenue of $58.26billion and its net profit margin the period was 8.7%.

The company also saw rapid growth in its shipments of tablets, PCs, and wearables. Huawei is beginning to scale its device ecosystem to deliver a more seamless intelligent experience across all major user scenarios. To date, the Huawei Mobile Services ecosystem has more than 800,000 registered developers, and 500 million users worldwide.

ALSO RELATED: South Africa President backs Huawei on 5G network roll out

Speaking on this in a statement, the Huawei’s Chairman, Liang Hua, operations are smooth and the organization is as sound as ever. With effective management and an excellent performance across all financial indicators, Huawei’s business has remained robust in the first half of 2019.

“Given the foundation we laid in the first half of the year, we continue to see growth even after we were added to the entity list. That’s not to say we don’t have difficulties ahead. We do, and they may affect the pace of our growth in the short term.

“But we will stay the course. We are fully confident in what the future holds, and we will continue investing as planned. We’ll get through these challenges, and we’re confident that Huawei will enter a new stage of growth after the worst of this is behind us.”  he said.

About Bukola Olanrewaju

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