Huawei to invest 100 bln USD on more efficient network

China's tech giant Huawei will invest 100 billion U.S. dollars in the next five years to make network infrastructure more efficient and reliable, Huawei founder and CEO Ren Zhengfei said Monday.

A Huawei logo is displayed at a retail store in Beijing on May 23, 2019. [File photo: VCG]

Despite the financial blows the company is bearing, Ren said there was no plan to reduce research spending and promised to make more contributions to theoretical science in the future.

Ren made the remark when having a dialogue with U.S. futurist George Gilder and Nicholas Negroponte, co-founder of Massachusetts Institute of Technology's Media Lab, at Huawei's headquarters in Shenzhen.