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12/18/2018, 8:49 AM (Source: TeleTrader)
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Huawei announces over 25 5G contracts, revenue jump

Rotating chairman of the Chinese telecom giant Huawei Technologies, Ken Hu, announced on Tuesday that the Shenzhen-based firm has secured over 25 commercial contracts for building 5G networks around the world. He added that Huawei has shipped more than 10,000 base stations for the expanding mobile Internet technology of the latest generation.

Recently, New Zealand and Australia have decided to block Huawei from building their 5G networks over national security concerns, while BT Group in the United Kingdom reportedly plans to remove all the Huawei equipment from "the core of its 3G and 4G networks." According to a recent report, the United States government is attempting to persuade allies not to use Huawei's equipment due to alleged security risks.

The private company also expects its revenue for 2018 to jump close to 10% from last year's $92 billion.

Breaking the News / NI