Huawei To Spend $2 bn On Cybersecurity Over Next 5 Years

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Telecom giant Huawei is set to invest $2 billion in cybersecurity over the next five years. This was reported in state-owned China Daily on last day.

Through the investment, the company will hire more people and upgrade its laboratories, after several governments expressed doubt over the safety of its products, Efe news reported citing the newspaper.

Huawei’s rotating chairman Hu Houkun said, “We will open a security transparency center in Brussels in the first quarter of 2019 to assure clients that our products are reliable”.

The announcement came weeks after the detention of Huawei’s Chief Financial Officer Meng Wanzhou in Canada for alleged violation of economic sanctions imposed by the US against Iran.

He said the firm was waiting for a “just conclusion of Meng’s case”, according to the daily.

As cybersecurity is a major concern to the world, this is a impressive step of Huawei.

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