Huawei is coming in hot with a $15m investment to develop its Cloud Oasis Program in the MENA region for SMEs and startups. The investment will be made in bits and drabs over the next three years, and the objective of doing so would be to grow its market share in this line of business in the region.
But it definitely has competition! Needless to say, Amazon (AMZN) recently announced a hefty investment to grow its AWS cloud business in the region. And let’s not forget about Microsoft (MSFT)’s Azure service.
why it matters
These days it seems like no one is left back down on planet earth as Covid-19 has accelerated the demand for cloud-based services. For Huawei, an investment to increase market penetration is required to ensure it's relevant amongst the big boys.