Huawei lands more than 25 contracts for 5G, forecasts revenue to exceed US$100 billion

Huawei Technologies, the world’s largest telecommunications equipment supplier, said it has secured more than 25 commercial contracts for 5G and gave an upbeat forecast of surpassing US$100 billion in revenue this year, despite the swirling legal drama surrounding its chief financial officer who was arrested in Canada and is currently out on bail.

Shenzhen-based Huawei currently has the most number of 5G equipment deals in place, up from the 22 it announced in November, that has resulted in its shipment of more than 10,000 base stations for the next-generation mobile technology, rotating chairman Ken Hu Houkun said in a press conference at the company’s manufacturing campus in Dongguan on Tuesday, according to a Reuters report.

That pipeline of commercial 5G contracts has not only put Huawei ahead of rival mobile network equipment suppliers Ericsson and Nokia, but the Chinese company also expected to raise its revenue to more than US$100 billion this year, compared with US$92 billion last year.

Hu also announced plans to bolsters Huawei’s cybersecurity efforts with an initial US$2 billion investment, while emphasising the company’s “clean” record in terms of security and a renewed commitment to step up engagement with world governments, according to a Bloomberg report.

The company is confident about its compliance with global trade and that it has never received any government requests to damage networks of customers in other countries, Hu said.