Huawei Marine Systems

Huawei Marine Systems was created in 2008 as joint venture from the British Global Marine. By 2019 the company laid in total 50.4 thousand km of fiber lines of communication worldwide.

2019: Huawei optimizes business and will sell the company on laying of submarine cables

The Chinese telecommunication giant Huawei will carry out restructuring of business and will sell the division which is engaged in underwater laying of fiber lines of communication. It in June, 2019 on air of China Central Television was said by the founder of Huawei Ren Zhengfei.

"We do not refuse assets and we do not sell them. As for division of laying of cables, this decision was not made recently. We were going to sell this business for a long time", - he noted in response to a request of journalists to comment on the transaction. "In fact this division was quite successful. We made the decision not because struck blow to us and business became bad. It's not true", - was specified by the founder of Huawei.

"We thought that this division does not treat a core activity of the company therefore decided to sell it", - he added. "As for other divisions, we are not going to close or sell them. We, probably, will reduce business scales. As for employees, we will redirect them to the main division. Big reduction of the personnel will not be, however business consolidation already goes", - Ren Zhengfei summarized.

At the beginning of June the Chinese company Hengtong Optic-Electric in the statement on the Shanghai stock exchange announced that she signed with Huawei the agreement of intent about acquisition of 51% of the stocks Huawei Marine Systems. The cost of this share of the capital was not specified.

2018

In September, 2018 the company completed cable laying between Africa and South America 6 thousand km long.

At the end of 2018, revenue of Huawei Marine Systems made 394 million yuans (about $57.1 million), and net profit reached 115 million yuans ($16.66 million). As of August of last year, the share of Huawei in the capital of the company made 51%, another 49% belonged to Global Marine.