Investment Updates News
- Huawei to increase investment in Russia
Date: 11-Jun-2007 Sources: (Shenzhen Daily)
CHINA'S leading telecom provider, Shenzhen-based Huawei Technologies Co. Ltd., will increase investment in Russia, senior management officials announced in St. Petersburg on Saturday.
'We will increase investment in Russia, enhancing local research and development, as well as providing better service for Russian clients and consumers,'declared Sun Yafang, chairwoman of the Board of Directors at a ceremony marking the company's 10th anniversary of operations in Russia. She did not give any further details, other than pledging that Huawei will insist on the localization of the industry. Huawei has set up joint-funded factories and laboratories in Russia with a total sales volume of US$1.2 billion until 2006, and around 1,000 local employees.
The company has established more than 100 branches worldwide, including research and development centers in Russia. It has more than 1 billion customers and top telecommunications service providers as clients in more than 100 countries.
Its annual sales income totaled US$11 billion last year, of which, some 70 percent were from the international market.
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