MILAN: Chinese tech giant Huawei said on Monday (Jul 15) it plans to invest US$3.1 billion (€2.75 billion) in Italy over three years, as the firm ...
MILAN: Chinese tech giant Huawei said on Monday it plans to invest US$3.1 billion in Italy over three years, as the firm looks to strengthen its foothold in Europe after the US labelled it a major security risk.
"Over the next three years, we will invest US$1.9 billion in Italy for the acquisition of supplies and US$1.2 billion in operations and marketing, with US$52 million in research and development," Miao added.AdvertisementHuawei is barred from developing 5G networks in the United States and the administration of US President Donald Trump is trying to convince its allies to do the same.
Monday's announcement in Italy followed reports in the Wall Street Journal that Huawei was planning to make major job cuts at its US operations."It is not important whether or not we have access to suppliers in the US, we will guarantee the supply to our partners on a continuous basis," Miao said.
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