(Yicai Global) July 19 -- Chinese handset and telecom titan Huawei Technologies has reeled in more than 50 commercial contracts for its fifth-generation mobile communication network, 28 of them from European countries, Xinhua News Agency reported.
Huawei also sold 100 million cell phones globally over the first five months, around 50 days earlier than last year, Chen Lifang, senior vice-president, director and head of the company's Government and Public Affairs department, said yesterday in Brussels, where the company is sponsoring a Europe-China Journalism Award administered by the Press Club Brussels Europe.
Since the US government entered the Shenzhen-based company onto its 'entity list' of firms barred from doing business with American firms, European customers have been supportive and their orders to it are votes of trust in Huawei, Chen said.
Europe's discussions of 5G network security are rational, but the US government's rhetoric is not quite so logical, she noted. Huawei was founded in China, but many components of and contributions to its network equipment come from Europe, the US, Japan and other countries.
It sold 100 million cell phones as of May 30, Chen said, turning to Huawei's terminal business. The firm's smartphone is quite in favor among consumers, as 10 million units of its P30 model, which it introduced this year, sold in just 85 days, while sales of the same number of P20s, which it unveiled last year, took more than 100.
Huawei has long committed itself to spending more than 10 percent of its revenue on research and development, Chen said. It invested as much as USD15 billion on it last year, or 15 percent of its income, and the R&D spending over next five years will pass USD10 billion, she added.
Editor: Ben Armour