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Huawei Set to Invest $2 bn on Cybersecurity Over The Next Five Years

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Huawei, China, Canada
A man lights a cigarette outside a Huawei retail shop in Beijing. VOA

Telecom giant Huawei is set to invest $2 billion in cybersecurity over the next five years as part of its efforts to ease security concerns, the state-owned China Daily reported on Wednesday.

Through the investment, the company will hire more people and upgrade its laboratories, after several governments expressed doubt over the safety of its products, Efe news reported citing the newspaper.

Huawei, U.S.
Huawei to spend $2 bn on cybersecurity over next 5 years. (IANS)

“We will open a security transparency centre in Brussels in the first quarter of 2019 to assure clients that our products are reliable,” said Huawei’s rotating chairman Hu Houkun.

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The announcement came weeks after the detention of Huawei’s Chief Financial Officer Meng Wanzhou in Canada for alleged violation of economic sanctions imposed by the US against Iran.

Hu said the firm was waiting for a “just conclusion of Meng’s case”, according to the daily. (IANS)

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IDC Says Huawei’s Temporary Reprieve Decision Depends on US Tech Firms

The US put Huawei in an Entity List in May which barred the US tech firms from selling components to Huawei without a special license

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The President of USA insisted that the Chinese company was a threat to national security. Pixabay

Whether the US decides to extend the temporary reprieve that it granted to Huawei, allowing it to do business in the US, may depend a lot on what the American tech firms have to say on the issue, according to research firm International Data Corporation (IDC).

“This is about, in my opinion, as much about the pressure that US components suppliers are exerting on the government as opposed to say punishing Huawei,” CNBC quoted Crawford Del Prete, President at IDC, as saying.

The US put Huawei in an Entity List in May which barred the US tech firms from selling components to Huawei without a special license.

The US government, however, later removed some of the restrictions for a period of three months. The temporary reprieve granted to Huawei is set to end on Monday.

US President Donald Trump on Sunday cast doubt on the possibility of conducting any kind of business with Huawei.

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The temporary reprieve granted to Huawei is set to end on Monday. Pixabay

“Huawei is a company we may not do business with at all,” Efe news quoted Trump as saying to the media on Sunday before departing from Morristown, New Jersey.

The President insisted that the Chinese company was a threat to national security.

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China on Monday urged Trump to allow companies in America to do business with Huawei.

“During the Chinese and US presidents’ meeting in Osaka, the US said it will allow US companies to supply Huawei. When and how will it honour its commitments? Concerns the US’ own reputation and credibility,” Chinese Foreign Ministry spokesperson Geng Shuang said in Beijing. (IANS)