Huawei Technologies said on Tuesday that it will spend US$2 billion over the next five years to focus on cybersecurity by adding more people and upgrading lab facilities, Reuters reports.
At a news conference in Dongguan, where it welcomed some international journalists into its new campus, the telecoms equipment giant outlined new cybersecurity initiatives as it battles global concerns about risks associated with the firm’s network gear, the report said.
Huawei has been in the news these past weeks for the arrest of its chief financial officer Meng Wanzhou in Canada at the request of the United States.
This has exacerbated the woes of the Chinese firm, which has already been virtually locked out of the US market and has been prohibited by Australia and New Zealand from building 5G networks amid concerns its gear could facilitate Chinese spying, the report noted.
“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,” Huawei’s rotating chairman Ken Hu said on Tuesday.
“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.
At a tour of Huawei’s Shenzhen headquarters, journalists glimpsed some of Huawei’s most advanced R&D labs housed in a three-storey building.
According to Huawei, it 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, an executive said, adding that Huawei expects revenue to exceed US$100 billion this year, up 8.7 percent from 2017.
In others comments, Huawei said it looking forward to “a just conclusion” in the case of Meng, who was arrested in Vancouver on Dec. 1 after US officials alleged Huawei was trying to use banks to evade sanctions against Iran and move money out.
Meng, the 46-year-old daughter of Huawei founder Ren Zhengfei, has said in a sworn affidavit that she is innocent and will contest the allegations against her at trial if she is surrendered to the US.
According to Huawei, Meng’s arrest has had no impact on the travel of the firm’s other senior executives.
– Contact us at [email protected]