Huawei expects to see revenue uplift from 5G roll-out next year

China’s big three state telcos are racing to roll out 5G services in more than 50 cities this year, following countries such as South Korea and the US. (AP)
Updated 18 September 2019

Huawei expects to see revenue uplift from 5G roll-out next year

  • 5G is the fifth-generation cellular network technology giving consumers and businesses much faster access to information

SHANGHAI: 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 said on Wednesday.

The Chinese telecoms equipment giant has said that it has secured more than 50 5G commercial contracts even as it fights accusations from the US and its allies that its networks are vehicles for Chinese espionage.

Ken 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.”

“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.

China’s big three state telcos are racing to roll out 5G services in more than 50 cities this year, following countries like South Korea and the US which have already started the service that promises to support new technologies such as autonomous driving.

Huawei’s home market has become more crucial to the company since Washington in May banned US firms trading with it due to national security concerns, hitting the company’s international business.

The company denies the allegations and says Washington is trying to curb its industry leadership to benefit US companies.

Huawei founder and CEO Ren Zhengfei last week told The Economist magazine that in order to resolve US concerns, he is open to selling his firm’s 5G technology — including patents, code, blueprints, production know-how — to Western firms for a one-off fee.

Hu said that Ren’s suggestion was not complex and that a new player could help alleviate security concerns.

“If the proposal gets implemented it will on one hand support more competition in 5G across the global supply chain, and such competition is beneficial to consumers and users and also contributes to the industry itself,” he said.

The company also on Wednesday launched what it described as “the world’s fastest artificial intelligence training cluster,” dubbed Atlas 900, and pledged to invest $1.5 billion in its developer program.

Huawei, which is also the world’s No.2 smartphone maker, is scheduled to launch a new high-end smartphone on Thursday, despite uncertainty about whether the new handset will be able to run Google’s Android operating system and apps.

Huawei said last month that, while the impact of the US curbs was weaker than previously expected, it would still push its smartphone unit’s revenue lower by about $10 billion this year.


Minister confident of progress in ties as Saudi-Japan Business Forum kicks off in Tokyo

Updated 23 October 2019

Minister confident of progress in ties as Saudi-Japan Business Forum kicks off in Tokyo

  • Saudi-Japan Vision 203 business forum aims to introduce Saudi Arabia as an attractive investment destination
  • Key issues being discussed at the forum include national digitalization and the essence of Vision 2030

The bilateral economic and commercial ties and agreements between Saudi Arabia and Japan are progressing well, Saudi economy and planning minister Mohammed Al-Tuweijiri said on Wednesday.

Tuwaijri was speaking at the Saudi-Japan Vision Business Forum taking place in Tokyo. He said he is “confident that they will proceed well going forward”.

Under the Saudi-Japan Vision 2030, the Saudi General Investment Authority (SAGIA), the Japan External Trade Organization (JETRO) and the Japan Cooperation Center for the Middle East (JCCME) have come together to organize the Saudi-Japan Vision Business Forum.

Also present on the occasion was Saudi minister of commerce and investment, Majid Al-Qasabi, who said “Japan has been a credible and reliable partner”.

Earlier, in his opening remarks, Muhannad Abanmy, the General Manager of Entertainment Infrastructure Development at GEA said Saudi Arabia is “open for business”.

This forum aims to introduce Saudi Arabia (under the Invest Saudi Brand) as an attractive investment destination especially in the fields of tourism, entertainment, and discuss business opportunities for Japanese technology companies to contribute to the Saudi private and public sector.

Key issues being discussed at the forum include national digitalization and the essence of Vision 2030.

The forum is focusing on showcasing the opportunities by key Saudi government and private sector entities to partner with Japanese counterparts on the themes of Tourism and Entertainment, and Innovation and Productivity.

Saudi & Japan are undergoing key structural changes in their governments to promote and reshape their economy to a more sustainable and dynamic one that creates a healthy society and enhance the well-being of both populations.

Saudi Vision 2030 seeks to increase entertainment and tourism’s contribution to national GDP, while enhancing the Kingdom’s profile as a unique destination.