Huawei gaining ground in global marketplace

Huawei Technologies Co said on Tuesday that it had so far secured 40 commercial 5G network contracts, up from 30 announced in late January, as the Chinese company is gaining more votes of confidence from telecom carriers.

Hu Houkun, rotating chairman at Huawei, said at a global analyst conference in Shenzhen that the company has shipped more than 70,000 5G base stations, up from 40,000 announced in late February.

"Fifth-generation mobile communication technology is coming much faster than expected," Hu said. "As 5G investment will be more value-driven, reliable and solid, it will generate new growth drivers for us."