Global giant Huawei’s chairman Ken Hu on Tuesday (October 25, 2022) promised to expand its investment and enhance innovation for ensuring better telecommunication under the 5G regime across the world.

"5G has grown faster than any previous generation of mobile technology," Hu said in a keynote paper at the 13th Global Mobile Broadband Forum 2022, which began in Bangkok on Tuesday.

 "In just three years, we've seen solid progress in network deployment, consumer services, and industry applications,” he added saying that more than 230 carriers around the world have already launched commercial 5G services.

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In total, he said, the industry has set up over three million 5G base stations, serving more than 700 million subscribers. 

"5G is in the fast lane," Hu said. “But there's more we can do…We need to work together to fully unleash the power of 5G networks and expand into services like cloud and system integration,” he said.

Chinese company Huawei, together with its industry partners GSMA and GTI, is hosting the two-day event. Organisers say mobile network carriers, vertical industry leaders and ecosystem partners from around the world will discuss how to make 5G a commercial success, as well as other high-priority industry topics like green development, intelligence, and 5G evolution.

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Hu said that in telecoms, consumer services still account for the bulk of carrier revenue.

But now, he said, as 5G becomes more prevalent, its vastly superior experience is driving new shifts in consumer behavior, including a sharp rise in high-definition video traffic.

He also said B2B 5G applications are also becoming a new engine for carrier revenue growth, producing considerable value in industries like oil and gas, manufacturing, and transportation. 

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He said these applications are not only innovative – they're generating real commercial value for carriers. In 2021, for example, Chinese carriers brought in over $500 million in new revenue from more than 3,000 industrial 5G projects.

“B2B 5G applications are poised to become the fastest growing revenue stream for carriers. 5G is enabling new service scenarios, applications, and business models, paving the way for unprecedented growth opportunities in the industry,” he said.

He said to keep this momentum the carriers should work together.

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"The industry needs to come together to define standards, prepare the spectrum, and build out the ecosystem," said Hu.

“Industry digitalisation is the next wave of global economic development. As a key enabler of digital transformation, 5G opens up a world of new opportunities. But the ICT ecosystem needs to work together to make the most of them,” he said.

He said Huawei would continue to follow the trend of innovation.

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