Huawei to spend $2bn over five years in cybersecurity push
Firm has been virtually locked out of US market and has been prohibited by Australia and New Zealand from building 5G networks amid spying concerns
Huawei Technologies will spend $2bn over the next five years to focus on cybersecurity by adding more people and upgrading lab facilities, as it battles global concerns about risks associated with its network gear. The typically secretive Chinese technology giant made the comments on Tuesday at one of its most in-depth media conferences at its Dongguan offices, after welcoming about two dozen international journalists into its new campus in the southern Chinese city. Huawei has been in the news these past weeks for the arrest of its CFO Meng Wanzhou — also the daughter of its billionaire founder Ren Zhengfei — in Canada at the request of the US. 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. “Locking out competitors from a playing field cannot make yourself better. We think any concerns...
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