Huawei Chairman reveals $2bn security investment plans, reaffirms $100bn revenue outlook
In a press conference on 18 December at the firm’s new campus in Dongguan, Huawei’s Rotating Chairman Ken Hu reiterated the outlook for year-end revenues and unveiled plans for significantly increased cybersecurity investment over the next five years
According to Huawei’s press release, featuring a transcript from the conference, Hu said that the firm had not experienced any significant cybersecurity incidents over the past 30 years and added that increased security concerns are a natural response to accelerated tech growth.
“Given our scale, our size, and our presence, we definitely need to take it very seriously when we look at the concerns or interests expressed by governments, by society, and by the general public,” Hu said, adding that Huawei is ready and willing to go the extra mile with its security practises in order to build consumer faith.
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“The company will invest an initial special budget of $2 billion US dollars in the next five years to comprehensively improve our software engineering capabilities so our products will be better prepared for the future world.”
Elsewhere in the conference, Hu lauded the company’s significant financial success through 2018, reiterating the expectation that Huawei will exceed US$100bn in annual for 2018.
Hu said that this is the first time in the company’s history that it has reached such heights, and added that 200 of the Fortune 500 have selected Huawei as the vendor for their respective digital transformation efforts.