Huawei exceeds contract and shipping expectations despite trade tensions

Huawei Technologies Co Ltd disclosed on Tuesday that it had signed 50 commercial contracts for 5G with carriers worldwide, despite facing restrictions from the United States.

By Tuesday, Huawei has received 28 contracts from Europe, 11 from the Middle East, six from the Asia-Pacific Region, four from the Americas, and one from Africa.

The tech giant has also shipped more than 200,000 5G base stations globally, more than initially expected as the company had previously outlined that it aimed to achieve the goal by the end of this year.

Industry insiders said the increasing number of orders demonstrate Huawei's technological prowess in super-fast 5G amid global trade uncertainties.

The Shenzhen-based company has been steadily securing votes of confidence from foreign companies. In June, UK telecom operator Vodafone said it will cooperate with Huawei to launch its 5G network services in 15 Spanish cities.

In total, Huawei has invested about $4 billion into the research and development of 5G since 2009. Founder and CEO Ren Zhengfei has said in an interview that others will not be able to catch up with Huawei in 5G technologies over the next two to three years.