Huawei Rotating Chairman Guo Ping has urged companies to build partnerships with the Chinese telecom giant to develop 5G technology applications, insisting that its participants will be “the biggest winners”, CNBC reports.
“This is a huge market worth trillions of US dollars”, Guo said. “The biggest winners will be our partners”.
The comments were made during a Web Summit tech conference in Lisbon on Monday, where Huawei’s top executive discussed the spread of new superfast fifth generation commercial networks that would enable the transmission of a large amount of data and said that the rollout was going “more rapidly than expected”.
“We predict by the end of this year we will see 60 commercial 5G networks", Guo added.
The Chinese tech titan is currently a leading provider of 5G equipment and has reportedly struck over 50 commercial 5G contracts around the world despite being barred from some major industrial markets such as Japan and Australia, following a US assault on the company, and concerns raised by a number of activists over the potential health risks from exposure to electromagnetic rays emerging from 5G infrastructure.
In May 2019, the US blacklisted Huawei and around 70 of its subsidiaries from purchasing American technology and doing business with US companies based on charges of industrial espionage and the use of equipment for illegal surveillance purposes on behalf of the Chinese government. Huawei has repeatedly denied any previous or potential spying activities or providing data to Beijing.
German Foreign Minister Heiko Maas has, however, also raised doubts about Berlin's potential collaboration with the Chinese giant, claiming that Huawei was still obliged to pass on information to the Chinese government based on national security laws, as reported by Euronews. Maas insisted that Berlin would try to test the “trustworthiness” of Huawei’s 5G security catalogue in the future.
Despite security concerns raised by a number of potential partners and Huawei’s failure to license Android’s latest version of its operating system on the firm's new Mate 30 phone following the US ban, the company has reportedly increased its revenue by 24% and increased global shipments of smartphones by 26% this year.