- Title: Huawei expects to see revenue uplift from 5G roll-out next year
- Date: 18th September 2019
- Summary: SHANGHAI, CHINA (SEPTEMBER 18, 2019) (REUTERS) HUAWEI DEPUTY CHAIRMAN KEN HU GIVING KEYNOTE SPEECH HUAWEI LOGO (SOUNDBITE) (Mandarin) HUAWEI DEPUTY CHAIRMAN KEN HU, SAYING: "So in today's or this year's Huawei Connect, we will take this opportunity to announce our new developer program. For this plan, we promise to invest $1.5 billion in a developer program to further expand our developer community. We hope the number for our developer community can increase from a scale of 1.3 million people to a scale of 5 million people in the future." NEWS CONFERENCE IN PROGRESS MEDIA SITTING (SOUNDBITE) (Mandarin) HUAWEI DEPUTY CHAIRMAN KEN HU, SAYING: "The current phase of 5G commercial is still rolling out with acceleration, and we believe that we have to still wait a while before 5G contributes to a sizeable share to the revenue." MEDIA SEATED "I think we will have a clearer picture by mid next year, because by then the first batch of 5G commercial roll-outs in China will reach a certain phase." (SOUNDBITE) (Mandarin) HUAWEI DEPUTY CHAIRMAN KEN HU, SAYING: MEDIA (SOUNDBITE) (Mandarin) HUAWEI DEPUTY CHAIRMAN KEN HU, SAYING: "If the proposal gets implemented, it is going to create more competition for 5G across the global supply chain and such competition is beneficial to users. It's also contributing to the development of the industry itself and Huawei is very willing to see such things happening." NEWS CONFERENCE ENDING HU LEAVING
- Embargoed: 2nd October 2019 10:10
- Keywords: Huawei China US 5G revenue trade war Ken Hu
- Location: SHANGHAI, CHINA
- City: SHANGHAI, CHINA
- Country: China
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA001AX6NFKD
- Aspect Ratio: 16:9
- Story Text: Huawei Technologies expects the roll-out of next-generation 5G wireless networks to start contributing to the firm's revenue from next year when China launches services, the company's deputy chairman, Ken Hu, said on Wednesday (September 18).
The Chinese telecoms equipment giant has said that it has secured more than 50 5G commercial contracts even as it fights accusations from the United States and its allies that its networks are vehicles for Chinese espionage.
Hu said that while the roll-out was accelerating, especially in Asia, the company believed that it would still need to "wait for a while before 5G contributes a sizeable share to revenue."
"I think we will have a clearer picture by mid next year, because by then the first batch of 5G commercial roll-outs in China will reach a certain phase," he told reporters on the sidelines of a company conference, estimating that Huawei had now signed about 60 contracts.
(Production: Xihao Jiang, Thomas Suen)
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