Huawei reveals plans to raise R&D funding

The China-based technology firm, Huawei, has announced that it will increase funding on research and development (R&D) up to $20bn as it aims to be a figurehead in 5G technology, Reuters reports.

The company confirmed on Thursday (26 July) that it will spend between $15bn and $20bn in order to make a substantial increase on the 89.7bn yuan ($13.23bn) spent in 2017.

Huawei is set to dedicate 20-30% of the figure to basic science research which is a rise from the initial projected figure of 10%.

According to Factset, Huawei is one of the biggest R&D spenders in the world alongside Amazon and Alphabet.

See more:

The phone company confirmed on its website that approximately 80,000 of its employees are involved in R&D which accounts for around 45% of the total workforce.

It was also revealed on Thursday that Huawei pledged to only charge fair and reasonable rates for its 5G intellectual property which is anticipated to fully launch in 2020.

The news comes a week after Huawei announced it was on schedule to ship 200mn phone handsets to the global and domestic markets in 2018 which would mean the company became the world’s second biggest provider after Samsung.


Featured Articles

Hybrid live event shaping the future of Sustainability & ESG

Sustainability LIVE London returns for a two-day, multi-track conference programme featuring inspirational ESG speakers, debates and discussions

Nine must-attend sustainability events for business leaders

From London to Abu Dhabi, Singapore to San Diego, these sustainability-focused events are designed to help business leaders action their ESG goals

Daniel Weise of BCG on new supply chain and procurement book

Daniel Weise, global leader of Boston Consulting Group’s procurement business line, on the timely publication of his new book, Profit From The Source

Attract and retain talent with flexible working and benefits

Human Capital

Nurturing the next generation of women leaders in Africa

Leadership & Strategy

5 Mins With: Cybersecurity expert Ariel Parnes of Mitiga