Huawei invests $3.4 billion in procurement in Europe

Huawei invests $3.4 billion in procurement in Europe

Huawei has revealed it spent $3.4 billion on procurement in its European operations in 2013.

The Chinese vendor said it made the investment on components, engineering services and logistical services in the continent.

The figure was announced at the World Economic Forum Annual Meeting in Davos, Switzerland, yesterday, and Huawei has since reiterated its commitment to the region.

“Europe benefits from a deep-rooted history of culture, management, and technology expertise as well as a great tradition for innovation... Huawei regards Europe as a key competency centre,” said Ken Hu, deputy chairman and rotating CEO at Huawei.

“By localising our operations and collaborating extensively with European partners, we have improved our overall capabilities.”

Hu also said that Huawei’s global value chain has enabled the transfer of such capabilities from Europe to other regions worldwide.

“In this process, we have also created a large number of job opportunities for Europe and helped move the industry forward,” Hu said.

Huawei has an estimated 7,700 employees in Europe, and earlier this year, signed an agreement with Batelco for the deployment of LTE networks in the British Crown dependencies: Jersey, Guernsey and the Isle of Man.

“With full confidence in the future of Europe, we will continue to invest in this region, co-operate with European industry players to promote innovations, and play a more active role in reshaping the society,” Hu added.

Gift this article