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Huawei Set to Announce $1.9 Billion Investment in the UK
Published on:
China's Huawei is reported to be about to announce a £1.2 billion (US$1.9 billion) investment into the UK over the next five years, creating at least 700 new jobs.
Citing unnamed sources, Sky News reported that the company will directly invest £600 million in its own R&D facilities, with a further £600 million expected to go to suppliers.
The announcement is expected to be made tomorrow (Wednesday) during a meeting between the Prime Minister and Huawei's founder, Ren Zhengfei.
The company already has R&D facilities in the UK, and recently opened a smartphone design centre in London to tap into European fashions.
A move to increase investment in Europe is also seen as putting pressure on the European Union which is currently investigating the company, and ZTE, over allegations of illegal state aid from the Chinese government.
On the web: Sky News
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