China’s Huawei Announces the Securing of over 24 Commercial 5G Contracts

Huawei Technology, the Chinese technology powerhouse, stated on Tuesday that they have secured 24 commercial contracts for 5G service, which makes them the largest in the world. They also said that they have already shipped over 10,000 units for their fifth generation of mobile communications.

Ken Hu, Huawei’s rotating chairman, spoke at a press conference at the company’s campus in China. He also made a statement saying that he is expecting revenue to pass $100 billion US this year. Currently, there is no details on who the commercial contracts are with.

The press conference happen just a few weeks after Men Wanzhou, Huawei’s chief financial office and daughter of founder Ren Zhengfei, got arrested in Canada at the request of the United States. Meng is on bail, though currently awaiting possible extradition to the U.S. in case that has exploded global markets.

The incident with Wanzhou has added more challenges to the Huawei, who is presently virtually locked out of the United States market, as well as prohibited by both Australia and New Zealand. All countries have stated that their hesitance towards Huawei building 5G networks boils down to their concerns it might facilitate Chinese spying. Huawei has consistently ensured that Beijing has no influence over it, and Ken Hu continued to express that fact at the press conference.

Ken Wu also announced that Huawei Technology is presently communicating with governments all over the world concerning the independence of its operations.

Huawei Technology is a China-based company that is currently the world’s largest supplier of telecommunications network equipment. Huawei is also the second largest maker of smartphones, and the company has a revenue of approximately $92 billion US last year. Unlike other large Chinese technology firms, half of Huawei’s revenue is derived from overseas business.

Looking past the 24 commercial contracts that Huawei Technology has secured, there is currently no updated reports of the potential ban of Huawei building or gaining access to 5G networks in other countries.

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China’s Huawei Announces the Securing of over 24 Commercial 5G Contracts

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