Huawei Technologies Co will invest at least $600 million in 5G research over the next four years, the Chinese telecommunications equipment manufacturer said in a statement on Wednesday.
"While we continue to evolve our existing 4G network capabilities, we plan to invest a minimum of $600 million over the next five years on research and innovation for 5G mobile network technologies to ensure that we are meeting consumers' demands for increasingly faster and better connections," Eric Xu, Huawei's (Shenzhen, China) current rotating chief executive, said in the statement on the company's website.
This figure does not include investment in 5G products, he said.
The company sees 5G networks ready for commercial deployment by 2020, delivering data speeds 100 times faster than 4G networks.
(Reporting by Paul Carsten)