The New York Times and Der Spiegel last month cited documents leaked by former U.S. security contractor Edward Snowden saying the National Security Agency (NSA) obtained sensitive data and monitored Huawei executives’ communications. Not only had the U.S. National Security Agency hacked into Chinese telecommunication companies, but also spied on the communications of Huawei executives, according to documents from Snowden. Analysts at a conference in Shenzhen raised concerns about Huawei’s business suffering from similar worries over the security of its products, following the New York Times and Der Spiegel reports. During Huawei’s global analyst summit on Wednesday, Eric Xu, Huawei’s executive vice president, expressed confidence that Huawei would not be negatively affected, despite the fact that it has long been hounded by U.S. lawmakers’ accusations that it is a tool of Chinese state espionage.
Huawei plans to spend more than $300 million on global marketing efforts throughout 2014, in an effort to improve its brand image. The Chinese company also expects information technology investment to ramp up 14 percent this year alone, as Huawei hopes to extend its product offerings outside of China.