Huawei eyes $3.4 trillion digital transformation spend

Meng Wanzhou, vice chairwoman, rotating chairwoman, and CFO at Huawei. Chinese telecommunications giant Huawei is planning to spend $3.4 trillion by 2026 to boost its digital transformation initiatives. So said Meng Wanzhou, vice chairwoman, rotating chairwoman, and CFO at Huawei, yesterday at the company’s 20th Global Analyst Conference in Shenzhen, China. At the event, Meng, shared how digitalisation is a common opportunity for industry, but emphasised that the strategic objectives of industry should drive digital transformation, rather than the technology itself. “In this new era of digital transformation, the ways in which people understand the world and create are changing,” she said. “This is having a deep impact on industrial innovation and economic development. “Digitalisation is a new blue ocean for the whole ICT value chain. Enterprises that are going digital and enterprises that are helping others go digital will have huge addressable markets and huge economic benefits. Huawei will keep investing in domains like connectivity, computing, storage, and cloud.” According to Meng, the world is embracing this opportunity, with more than 170 countries and regions developing their own digital strategies. By 2026, she said, Huawei expects that spending on global digital transformation will reach $3.4 trillion. See also […]

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