Huawei to invest US$500 million on cloud services within 5 years

Huawei Technologies plans to invest at least US$500 million within five years to offer improved cloud services to enterprise clients and the company aims to become one of the top five cloud service providers globally, it said in Shanghai today.

The plans mark the latest move for Huawei, the world’s top telecommunications equipment maker and one of the top three smartphone vendors, to expand in the enterprise and cloud market, with a strategy called “Growth with the Cloud”.

Huawei plans to join Amazon and Microsoft as one of the top cloud service providers in the world, the company said at a conference which closed today in Shanghai.

During the three-day Huawei Connect 2017, the company talked about its US$500 million investment on cloud support services for about 1,000 enterprises. Huawei has also signed cooperation deals with several companies including China Pacific Insurance and Microsoft.

Revenue in China’s public cloud market is set to hit US$3.8 billion by 2020, said Forrester Research.