World leading Telecommunications Company, Huawei, is proceeding with optimism during the current pandemic, caused by Covid-19. This was mentioned during Tech Talk, an online cyber security webinar, presented on April 27.
Director of ECIPE (European Centre for International Political Economy), Hosuk Lee-Makiyama announced how consolidated China’s global market has been with regards to 5G technology.
Huawei, as a top Chinese vendor currently holds over 80% of market share in China; however its involvement in 5g allocation in the global market totals 50%, with the rest of the world sharing segments of the latter.
Furthermore, Makiyama admits that the Covid-19 effects are quite treacherous for the Tech market and all developed and resourceful countries that have been hit, (China, USA, East Asia and Europe) but could face a much bigger problem if major developing countries are in the batch.
“We don’t really see the bottom of it until it actually hits the emerging and developing countries”, Hosuk remarked while commenting on the current economic crises. Additionally, he stated that if seriously affected, investment decisions may be modified going forward.
COVID-19 hits Huawei’s Customers Hard – Anticipating a better 2021
With Europe being affected most; the geographical complication of 5G involvement has decreased 3% in Global GDP since December 2019 and is 6.3% lower than what was the initial prediction for a few months ago. However, Huawei is extremely optimistic.
Lee-Makiyama is predicting shot growth in 2021. “At some point, all pandemic ends”, Lee-Makiyama stated while retracing the prior economic crises. After every crisis in history, businesses are created and others emerge stronger. “Huawei will be stronger” Lee-Makiyama ended.
It hopes that by serving more than 3 billion people and supporting more than 1500 carrier networks will assist to boost its earnings and sales. Additionally Huawei has earned the trust of thousands of customers in over 170 countries.
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