Thank you for subscribing.

Please check your email to confirm.

Unsubscribe success..

You already subscribed and confirmed.

Please check your email.

You already subscribed.

Please check your email to confirm.

Huawei to Boost R&D Spending’s in the U.K
Huawei to Boost R&D Spending’s in the U.K
Huawei UK. Image Credit: Huawei official website
Associated Company
Huawei Huawei

After spending a staggering amount of over USD 120 million in research and development in the UK, Huawei plans to increase the numbers this year outspending its competitors. 

This comes after a strong performance of the company in the first half 2019 where it managed to generate a revenue of USD 58.3 billion with year on year growth of 23% and achieving a net profit rate of 8.7%. Which clearly shows that the company continues to grow despite the sanctions by the Trump administration.

Huawei increased the global research and development budget which reached USD 18 billion an increase of 18%. Victor Zhang, Huawei’s President for Global Government Affairs, said at a press conference in London on Tuesday that the company would increase its R&D staff and R&D spending in the UK. This looks quite interesting after the announcement concerning the mass layoffs in the US.

“Our R&D budget for this year will be USD 18 billion, which is a really significant increase. Last year, we invested USD 15 billion. We rank as the fifth biggest company for research and development, according to a report by the European Commission.”

He also added, “That’s good news for the UK. Our commitment to investment and our ongoing activities in the UK will not change. We are committed to the UK on 5G but also in terms of the country’s fiber network rollout.”

According to Zhang, they also want to increase the number of people in research and development in the UK. At the moment, the number of Huawei’s R&D engineers in the UK is 400 which is 100 more than last year. 

Huawei wants to dominate the next generation of wireless technology and it’s investing in numbers none of its competitors can match. Huawei’s 2018 R&D budget grew 149% in four years, out-doing all its competitors over the same period. Amazon’s was the only company with a larger R&D budget growth (210%).

According to Bloomberg, Huawei’s 2018 R&D budget accounted for 14 percent of its revenue, the second-highest proportion, after Alphabet and for the years from 2014 to 2018, Huawei ranked seventh in overall R&D expense at CNY 368 billion.

Enterprise Information

Huawei Technologies provides infrastructure application software and devices with wireline, wireless, and IP technologies.
CATEGORIES: Telecommunications
Last Funding Type
Number of Employees
Number of Funding Rounds
Total Funding Amount

Enterprise Information

Huawei
Huawei Technologies provides infrastructure application software and devices with wireline, wireless, and IP technologies.
CATEGORIES: Telecommunications
Last Funding Type
Number of Employees
Number of Funding Rounds
Total Funding Amount

Reach the Author!

Ask the author questions about the copied text

MOST READ

THE LATEST

Any Question

EqualOcean is a leading industrial tech media and investment research company that focuses on technological and industrial innovation in China.

We aim to assist Chinese entrepreneurial enterprises to break into the global market and provide overseas investors, VCs, and enterprises with a deeper understanding of China's business environment and to seize opportunities in China.

Join over 800,000 of your peers