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2/23, 5:00 PM (Source: TeleTrader)
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Huawei signs over 1,000 5G corporate contracts

Huawei Technologies' Deputy Chairman Ken Hu announced the company has signed over 1,000 corporate 5G contracts in order to expand its network business to soften the fact that its smartphone operations are shrinking.

Speaking at the opening ceremony of MWC Shanghai, Asia's largest mobile device trade show Hu said: "Huawei incubates 5G applications with partners across a wide range of domains like manufacturing, health care, finance and transportation. With these partners, Huawei is exploring how 5G can help different industries go digital more effectively."

The US Department of Commerce imposed tighter trade restrictions against Huawei in September last year.

Breaking the News / TF