Read time: 3 minutes

Huawei to invest $3.4 trillion in global digital transformation

By , ITWeb
Africa , 20 Apr 2023
Meng Wanzhou, Huawei’s vice chair and CFO.
Meng Wanzhou, Huawei’s vice chair and CFO.

In the next three years, Huawei is expecting to spend $3.4 trillion on global digital transformation.

Meng Wanzhou, Huawei’s vice chair and CFO, revealed the figure yesterday during her keynote speech at Huawei’s 20th Global Analyst Conference.

She said the world is embracing digital transformation. And, in support of this, by 2026, spending on global digital transformation by the Chinese technology company will reach US$3.4 trillion.

In her speech, she said Huawei is enabling productivity and efficiency improvements across industries such as mining, healthcare, ports, transportation and many others.

It has built partnerships with nearly 200 power enterprises worldwide and provided digital services for more than 20 leading oil and gas enterprises and 800 mining enterprises

In addition, Wanzhou said Huawei and its partners have developed and released over 100 digital transformation standards for various industries.

By the end of 2022, over 700 cities and 267 Fortune Global 500 companies worldwide had chosen Huawei as their partner for digital transformation, she said.

In terms of industry, Wanzhou said: “Huawei has served more than 2 800 medical institutions and 50 of the top 100 financial institutions. In addition, Huawei’s solutions serve more than 100 airports and 100 ports, and have helped customers upgrade more than 200 000 km of roads, 300 urban rail tracks, and 150 000 km of railway tracks.”

In her speech, Wanzhou detailed the company’s plan on building the digital infrastructure, which she said will support diverse and complex industrial scenarios.

She said Huawei is one of the companies leading the development of the next generation 5.5G infrastructure, developing the technology and networks that will support over 100 billion connections and deliver a 10-gigabit user experience.

“Digitalisation is a new blue ocean for the whole ICT value chain. Enterprises that are going digital and enterprises that are helping others go digital will have huge addressable markets and huge economic benefits. Huawei will keep investing in domains like connectivity, computing, storage, and cloud,” said Wanzhou.

She added: “In this new era of digital transformation, the ways in which people understand the world and create are changing. This is having a deep impact on industrial innovation and economic development”

Further, Wenzhou outlined the four distinct characteristics of digital infrastructure that Huawei is delivering to help customers go digital. 

She said: “We aim to provide our customers with digital infrastructure that has the simplest possible architecture and the highest possible quality, delivering the best possible experience at the lowest possible costs.

“Our goal is to help organisations go digital in four stages: digitising operations, building digital platforms, enabling platform-based intelligence, and putting intelligence to use. The time is ripe to thrive together in this new and exciting digital future."

Daily newsletter