Huawei to invest $100 billion on more efficient network

SHENZHEN: China’s tech giant Huawei will invest $100 billion in the next five years to make network infrastructure more efficient and reliable, Xinhua news agency reported, quoting Huawei founder and CEO Ren Zhengfei on Monday.

Despite the financial blows the company is bearing, Ren said there was no plan to reduce research spending and promised to make more contributions to theoretical science in the future.

Ren made the remark when having a dialogue with United States futurist George Gilder and Nicholas Negroponte, co-founder of Massachusetts Institute of Technology’s Media Lab, at Huawei’s headquarters in Shenzhen. – Bernama