Huawei to invest $100B on more efficient network

People pass by the Huawei stand during an expo. (File photo: Xinhua)

China's tech giant Huawei will invest 100 billion US dollars in the next five years to make network infrastructure more efficient and reliable, Huawei founder and CEO Ren Zhengfei said Monday.

Despite the financial blows the company is bearing, Ren said there was no plan to reduce research spending and promised to make more contributions to theoretical science in the future.

Ren made the remark when having a dialogue with US futurist George Gilder and Nicholas Negroponte, co-founder of Massachusetts Institute of Technology's Media Lab, at Huawei's headquarters in Shenzhen.