Huawei will invest over $17 billion in R&D this year

Huawei today released its business results for the first half of 2019, in which the company shows its growth figures, as well as promise to keep increasing its Research and Development investment.

Huawei first half result shows a revenue hike of 23.2% despite U.S. ban

Huawei said it’ll continue to bid in the future and keep the investment as planned including a total of 120 billion yuan ($17.4 billion) in R&D in 2019.

“But we will stay the course. We are fully confident in what the future holds, and we will continue investing as planned – including a total of CNY120 billion in R&D this year. We’ll get through these challenges, and we’re confident that Huawei will enter a new stage of growth after the worst of this is behind us.”

A previous report shows that the tech giant is also searching for new talents specialized in the field of Artificial Intelligence (AI) and Robotics. As it aims to hire 30 such talented employees this year, and looking to reach up to 300 by 2020.

In the H1 2019, Huawei made 401.3 billion yuan in revenue, a 23.2% increase over the same period last year. The company’s net profit margin for H1 2019 was 8.7%

According to Huawei’s Chairman, Liang Hua, operations are smooth and the organization is as sound as ever. With effective management and excellent performance across all financial indicators, Huawei’s business has remained robust in the first half of 2019.

“Revenue grew fast up through May,” said Liang. “Given the foundation, we laid in the first half of the year, we continue to see the growth even after we were added to the entity list. That’s not to say we don’t have difficulties ahead. We do, and they may affect the pace of our growth in the short term.”