Huawei to spend $2 billion over five years in cybersecurity push

Czech warning over Huawei, ZTE security ‘threat’

The firm has secured 25 commercial contracts for 5G, Hu said.

An anonymous official from Ottawa also told Reuters that "there is no reason to believe that this case is linked to the recent cases of Canadians detained in China".

The company has shipped more than 10,000 base stations for the fifth generation of mobile communications, he said, adding that Huawei expects revenue to exceed $100 billion this year - up 8.7 percent from last year.

The company took swipes at the USA and its allies Tuesday during its first press event since CFO Meng Wanzhou was detained in Canada on allegations she defrauded banks to violate Iranian sanctions. It comes after a reshuffling from the likes of the UK, US, New Zealand and Australia.

Following the arrest of Meng in Canada, the Chinese government then arrested two Canadians on national security concerns, and thus Hu was questioned whether this was in direct retaliation. Responding to the sure-shot claims of the watchdog, a spokesperson from Huawei took to the media to state that the company categorically denies any suggestion that it poses a threat to national security.

Over 30 years, the company has never had a serious cyber security issue or seen any evidence showing its equipment is a security threat, he said.

Paine relief: Australia win for 1st time since 'sandpapergate'
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Samsung Galaxy S10 will reportedly be announced on February 20
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Trump's son-in-law Jared Kushner possible next chief of staff: US media
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Global Affairs would not reveal the identity of the latest possible detainee, but reports suggest the person is not a diplomat or entrepreneur doing business in China.

"We will open a security transparency centre in Brussels in the first quarter of 2019 to assure clients that our products are reliable", said Huawei's rotating chairman Hu Houkun.

The lack of public evidence to support accusations against Huawei has prompted industry analysts to suggest they are an excuse to shield US or European competitors against the rise of a Chinese challenger.

Chinese phone maker Huawei is very committed to proving the world it's not spying for China and has thus prepared $2 billion for cybersecurity investments over the next 5 years.

French carrier OrangeSA last week also decided against buying Huawei gear for its 5G network.

Huawei and ZTE are two companies that have been constantly getting warnings from the US. However, it's extremely rare for the USA and allied governments to take the sorts of steps they have taken to restrict specific companies. "Therefore in the past and in the future we will continue to adopt a transparent approach in proactively communicating with all stakeholders on all of their legitimate concerns, by providing more information that they need".

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