Huawei has announced that it procured €2.5 billion worth of components, engineering services and logistical services from Europe last year.

The China-based vendor, which made the announcement at 2014 World Economic Forum in Davos, has made a concerted effort to make Europe a second home while it continues to be shunned by North America on security grounds.

The company employs more than 7,700 employees in Europe and has invested in two R&D centres and six centres of expertise in areas such as finance and marketing.

In 2012, Huawei founder Ren Zhengfei committed his company to a €1.5 billion, five year investment and procurement plan in the UK.

Ken Hu, Huawei's Deputy Chairman and Rotating CEO, said: “Huawei regards Europe as a key competency centre. By localizing our operations and collaborating extensively with European partners, we have improved our overall capabilities.

“With full confidence in the future of Europe, we will continue to invest in the region, cooperate with European industry players to promote innovation, and play a more active role in reshaping the society."

Last week, Huawei revealed that global revenues are expected to reach €29 billion for 2013, a year-on-year increase of around eight percent.

Operating profit is expected to reach €3.5 billion, meanwhile. Final 2013 figures will be released in the second quarter of the year.

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