China based telecommunications group Huawei Technologies is set to invest $400 million in New Zealand to help drive local R&D and support the construction of a cloud data center over the next five years.
Around $250MM (of the total $400 MM) is expected to be used for equipping local companies/partners by bringing them in Huwai’s supply chain and procurement network. The rest will be used for cloud data center, specifically, “Innovation Lab” at Victoria University of Wellington by the end of this year. The Lab will focus on the use of big data, and how to maximize the potential of the Internet of Things (IoT) through future technology, most notably 5G.
Huawei Technologies is a Chinese multinational networking and telecommunications equipment and services company headquartered in Shenzhen, Guangdong. It is the largest telecommunications equipment manufacturer in the world, having overtaken Ericsson in 2012.
Huawei was founded in 1987 by Ren Zhengfei, a former engineer in the People’s Liberation Army.
Source: – NZHerald, Forbes