Huawei to invest $2bn in UK over next five years

Desktops

by CBR Staff Writer| 12 September 2012

The company plans to increase its workforce in the UK to over 1,500 by 2017

Chinese technology company Huawei Technologies is planning to invest $2bn in the UK over the next five years.

The company said $1bn of its spending will be for investment, including research and development, while another $1bn will be for procurement of components.

Huawei, which already employs more than 800 people in the UK, plans to increase its workforce to over 1,500 by 2017.

Huawei founder and chief executive officer Ren Zhengfei said: "The UK is one of the most important European markets in which Huawei has invested."

In 2011, Huawei reported a revenue of $32.2bn of which about 70% was generated outside China.

The company's revenue in Europe increased 29% to about $3.75bn, accounting for 13% of its overall revenue.

Huawei works with major telecommunications carriers and broadband service providers in the UK, helping them build the infrastructure for fixed and mobile broadband services.

In January this year, Huawei had expanded its R&D activities in the UK with the acquisition of the UK-based Centre for Integrated Photonics (CIP).

Huawei is facing obstacles to expand in the US and Australia over concerns about cyber security.

Earlier this year, Huawei had been barred by the Australian government from biding on its national broadband network (NBN) due to concerns over cyber attacks from China.

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