Sunday, May 12, 2013

Huawei's Ren: No IPO for Next 5-10 Years

Huawei issued comments from its CEO and Founder, Mr. Ren Zhengfei following his first ever press briefing outlining the company's business ambitions and global cyber security challenges.

Two key comments from Mr. Ren:
  • None of his family will be the next CEO of the company
  • Huawei will not go public in the next 5-10 years. 
"As a leading global company, Huawei attaches great importance on cyber-security," Mr. Ren said. "Cyber-security is a significant challenge facing our industry globally today. The solution must involve governments, telecommunications operators and ICT companies, including Huawei and our peers, as well as end users coming together to take collaborative, solutions-oriented, multi-lateral approaches to mitigate the risk."

"Huawei equipment is almost non-existent in networks currently running in the U.S. We have never sold any key equipment to major U.S. carriers, nor have we sold any equipment to any U.S. government agency. Huawei has no connection to the cyber security issues the U.S. has encountered in the past, current and future."