Huawei Technologies has said it would spend $2 billion over the next 5 years, to focus on cybersecurity by adding more people and upgrading lab facilities, as it battles global concerns about risks associated with its network gear.
The Chinese telecom corporation made the comments at a press conferences at its Dongguan offices.
Huawei has been in the news these past weeks for the arrest of its chief financial officer Meng Wanzhou – also the daughter of its billionaire founder Ren Zhengfei – in Canada at the request of the United States.
This has exacerbated the woes of the Chinese firm, which has already been virtually locked out of the U.S. market and has been prohibited by Australia and New Zealand from building 5G networks amid concerns its gear could facilitate Chinese spying.
“Locking out competitors from a playing field cannot make yourself better. We think any concerns or allegations on security at Huawei should be based on factual evidence,” its rotating chairman Ken Hu said.
“Without factual evidence we don’t accept and we oppose those allegations.”
Huawei has been communicating with governments worldwide regarding the independence of its operation, he said.
He added that Japan and France had not formally banned its telecom equipment.
Recent media reports have indicated moves by these governments to shun the company’s equipment.
There are other reports that indicate the country’s three top operators planned not to use current equipment and upcoming 5G gear from Huawei, and that France was considering adding items to its “high-alert” list that tacitly targets Huawei.
Huawei has repeatedly said Beijing has no influence over it.
The company has shipped more than 10,000 base stations for the fifth generation of mobile communications, he said, adding that Huawei expects revenue to exceed $100 billion this year – up 8.7 percent from last year.
Huawei is the world’s largest supplier of telecommunications network equipment and second-biggest maker of smartphones and unlike other big Chinese technology firms, derives half its revenue from overseas.