- General
- July 26, 2018
- 4 minutes read
Huawei is upping its annual R&D budget to at least $15 Billion
image credit : Flickr/Kārlis Dambrāns China based telecom and smartphone manufacturer Huawei how made known it would be increasing…
image credit : Flickr/Kārlis Dambrāns
China based telecom and smartphone manufacturer Huawei how made known it would be increasing its spending on annual Research & Development to between $15-$20 Billion as it aims to be a global leader in the 5G technology space.
This increase moves up its ranks among the world’s top R&D spenders as Huawei has put in more resources towards development of fast-pacing technology with the company spending $13.2 Billion last year amounting to 14.9% of its revenues on Research & Development.
Huawei is dedicating between 20-30% of the stated amount on basic science research which comes as at least double its previous prediction of 10% as stated by the company.
Almost 50% of Huawei’s current staff work in R&D with the company aiming to innovate rapidly to keep up with fast-changing and newer technologies even as it has faced recent hassles in several countries notably in the U.S. over opposition of Huawei’s telecom gear sales across the country over security risks in the midst of rising international political tensions.
Several accusations were brought against Huawei by U.S. Congressmen over the use of its network to facilitate Chinese spying, An accusation the company denied even as Australia and Britain joined in the pushback over usage of Huawei’s networking gear in their countries.
The top R&D spenders last year included the likes of Amazon, Alphabet, Samsung, Intel, GM, Facebook, Volkswagen, Roche and several other major companies with the U.S. taking the first spot worldwide followed by China in total R&D spending.
According to data from the UNESCO Institute for Statistics, Companies in the U.S. spend an estimated $476 Billion on R&D each year with China coming second with $371 Billion spent annually followed by the likes of Japan, Germany, South Korea, France, India, U.K, Brazil, Russia, Italy, Canada, Australia, Spain and Netherlands in alphabetical order.
