Huawei invests £20 million in Huawei Mobile Services ecosystem

In order to expand and strengthen its ecosystem, Huawei announced a new plan.

Huawei has just announced a £20 million investment plan to encourage developers in the UK and Ireland to integrate their apps into the Huawei Mobile Services ecosystem.

In May 2019, Google stopped providing GMS services to Huawei's new mobile phones for various reasons. Since then, Huawei has accelerated the promotion of its own "Huawei Mobile Services" to improve user experience. Currently, the system has 600 million active users in more than 170 countries, including 72 million European users in the UK.

In his 2020 New Year's speech, Huawei's rotating chairman Xu Zhijun said that despite the U.S. government's crackdown, the company expects to achieve annual sales revenue of more than 850 billion yuan, a year-on-year increase of about 18%. Although it did not meet expectations at the beginning of the year, the company's overall operations were stable and basically withstood the test.

Xu Zhijun said that the construction and development of the HMS ecosystem is a necessary condition for the overseas sales of smart terminals. In 2020, we must make every effort to build the HMS ecosystem, support the sale of smartphones overseas, and promote innovation among application partners.

Huawei announces £20 million investment plan; European stocks mixed

European stocks closed mixed on Wednesday (January 15), as comments from the US Treasury Department slightly dampened market optimism.

The pan-European Stoxx 600 index closed slightly lower, with auto stocks leading the way with a 1.7% drop, while utilities bucked the trend with a 1.3% gain.

Germany's DAX index closed down 29.92 points, or 0.22%, at 13,426.57 points; Britain's FTSE 100 index closed up 20.75 points, or 0.27%, at 7,643.10 points; France's CAC40 index closed down 8.28 points, or 0.14%, at 6,032.61 points.

On Wall Street, stocks rose on expectations of the deal and as corporate earnings season heated up. The Dow Jones Industrial Average rose 160 points, while the S&P 500 and Nasdaq also rose.

Britain, France and Germany have all formally accused Iran of violating the 2015 nuclear deal, a move that could pave the way for the reimposition of sanctions.

It is reported that the first Huawei UK and Ireland Developer Conference was held in London, the capital of the United Kingdom, on January 15 local time. During the event, Huawei announced a £20 million investment plan to encourage developers in the UK and Ireland to integrate applications into the Huawei Mobile Services ecosystem. The event showcased the opportunities brought by Huawei Mobile Services to British companies, including direct access to Huawei's latest hardware and leading artificial intelligence technology.

Germany's full-year GDP growth data released Wednesday morning showed that Europe's largest economy grew by 0.6% in 2019, the slowest pace in six years, as export-reliant manufacturers face continued headwinds from trade disputes and weak overseas demand.

Meanwhile, UK inflation hit its lowest level in three years in December, at an annual rate of 1.3%, compared with expectations for 1.5%. The data put some downward pressure on the pound and raised expectations for a rate cut by the Bank of England later this month.

In terms of individual stocks, shares of Dutch semiconductor company ASMI rose nearly 9% after the company reported better-than-expected fourth-quarter sales and orders.

At the other end of the European benchmark, London-listed Tullow Oil shares fell nearly 16 percent after the company said it would write down $1.5 billion in assets after cutting its oil price forecasts.