Huawei, the Chinese telecoms giant, is poised to unveil a £1.2bn investment plan into the UK that will create 700 jobs.
The overseas investment will be a significant boost to David Cameron, the Prime Minister, and Vince Cable, the Business Secretary, as he outlines an industrial strategy for the UK on Tuesday.
Huawei ’s investment will be spread over five years and represent £600m direct investment along with £600m generated through the supply chain, it was reported on Monday night.
Details of the investment will be unveiled on Tuesday.
Huawei already has a large UK business supplying network technology and unbranded handsets to other mobile operators. However, it is understood to have been readying for a major assault on the consumer market and searching for a base in Europe to lead research and development work.
The company has been steadily recruiting industry heavyweights, including the UK’s former IT chief, John Suffolk, as a cyber-security official. This is part of a campaign to combat claims, largely from America, that the Chinese could use the company’s handsets for spying. Huawei denies the allegations.
Brian McBride, a former managing director of Amazon.co.uk and T-Mobile’s UK operation, has been appointed to Huawei’s advisory board, as has Claudia Arney, a former director of Emap. Huawei declined to comment on Monday night.
The proposed investment will be announced as Everything Everywhere, the owner of the T-Mobile and Orange mobile phone networks, launches the UK’s first high-speed “4G” network .
The company will unveil a new brand dedicated to offering mobile phone and broadband services that are at least four times quicker than the best currently available.
The first handsets the new brand will sell are expected to include Nokia’s new Lumia 920 and Apple’s new iPhone.Error locating information...