Huawei Plans to Spend More Than $300 Million Annually in Funding for Universities

Huawei

Huawei has got the plans of spending more than $300 million annually in research funding for the universities, as per a senior executive of the company on Tuesday.

William Xu—the President of Huawei’s institute of strategic research made the comments at a company event in the Southwestern Chinese city of Chengdu.

The company has been fighting a trade ban from Washington that has caused serious damage to its business since the month of May and could cut off its access to the needed US suppliers.

The Massachusetts Institute of Technology in the United States broke all ties with Huawei earlier this year after the US authorities began inquiring the company for accused sanctions violations while the Oxford University of Britain stopped accepting funding from Huawei last year.

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Xu mentioned that just a few institutions were such that had suspended the ties with Huawei and that the firm would be giving funding to all those institutions where the company was still welcomed.

He said that the amount of $300 million per year is only going to increase but not reduce from now onwards.

He also said that the firm has shipped more than 2lac, 5th generation network telecommunication base stations to the markets across the world, surging from 1.5 lacs as was disclosed in July.

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