China’s Huawei has promised to spend £3 billion sourcing tech and services from the UK post-Brexit

Xi Jinping Theresa MayDan Kitwood/Getty Images

  • Chinese mobile giant Huawei will spend £3 billion over the next five years on procurement in the UK.
  • This means the firm will spend money on anything from chipset IP to financial services from British-based companies.
  • The deal looks good for a post-Brexit UK that needs to prove it’s an important trading partner to the rest of the world.

Huawei, the Chinese smartphone and telecoms giant, has promised to spend £3 billion over the next five years on buying technology, intellectual property, and services from the UK.

Huawei has described the promised cash as a procurement commitment, meaning it will source anything from chipset IP to financial services from UK companies, both for its UK business and for the group more widely.

See the rest of the story at Business Insider

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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