UK commits $333 million to help carriers replace Huawei 5G: Report

UK will spend £250 million (US$333 million) to diversify its sources of 5G wireless equipment after banning China’s Huawei Technologies Co. from supplying the next-generation technology.

Huawei is set to be excluded from British 5G networks by 2027 due to security concerns, leaving phone carriers reliant on a supply duopoly of Finland’s Nokia Oyj and Sweden’s Ericsson AB.

Around £50 million ($67 million) of the total will be spent next year to help build “a secure and resilient 5G network” according to documents published on Wednesday as part of Chancellor of the Exchequer Rishi Sunak’s spending review.

The resulting reduction in competition could