Huawei unveils major Italy investment

Chinese telecom major Huawei Technologies Co plans to invest $3.1 billion in Italy over the next three years, making its latest move to leverage European technologies for future growth amid challenges from the US government, analysts said on Monday.

Thomas Miao, Huawei's Italian unit chief executive, said the investment plan would create 1,000 new direct jobs from 2019 to 2021, Italian news agency Ansa reported.

Specifically, the plan would consist of $1.2 billion invested in operations and marketing, and $1.9 billion in direct supplies of Huawei's products, while $52 million would be added for research and development activities, Ansa added.