Money Buzz! Europa

Tag: huawei

  • Huawei will set up a research and development center in Budapest

    Huawei will set up a research and development center in Budapest

    Chinese giant Huawei will set up a research and development (R&D) center in Budapest, Foreign Minister Peter Szijjarto announced on Tuesday, the Budapest Business Journal reported.

    The investment, which will create new jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary, Szijjártó said.

    He added that the new R&D center will focus on artificial intelligence, streaming services, image processing, cutting-edge technologies, mass distribution systems.

    Cai Lingyu, head of Huawei Technologies’ subsidiary in Hungary, said the company had invested $ 1.5 billion in the country since 2005 and now has almost 2.400 employees.

    Last year, the Hungarian subsidiary Huawei Technologies recorded revenues of 77 billion forints.

    Is not the first Chinese investment in Hungary, personal computer maker Lenovo will also build its first European plant in Hungary, as Money Buzz! Europa reported.

  • Sweden bans Huawei and ZTE brand equipment from future 5G networks

    Sweden bans Huawei and ZTE brand equipment from future 5G networks

    The Swedish telecommunications regulator banned the use of equipment produced by Chinese companies Huawei and ZTE in future 5G networks on Tuesday.

    The decision comes ahead of the tender for the allocation of frequencies that will take place next month, Reuters reports.

    The Swedish Post and Telecom Authority (PTS) said the ban was a consequence of the new law passed earlier this year and assessments by the Swedish armed forces and intelligence services to ”ensure that the use of frequencies does not endanger Sweden’s security.”

    PTS added that companies that will take part at the allocation tender of 5G frequencies must remove the current Huawei and ZTE equipment from the central parts of their networks by January 1, 2025.

    The regulator approved the participation of four operators in the second round of the tender procedure for the allocation of 2.3 and 3.5 Gigahertz frequencies, crucial for the launch of future 5G networks: Hi3G Access, Net4Mobility, Telia Sverige and Teracom.