Huawei has secured more than 50 commercial 5G contracts globally, and has delivered more than 200,000 5G base stations, Xu Wenwei from the company's executive team said during the Huawei Asia-Pacific Innovation Day on Tuesday.

According to Xu, 28 of Huawei's contracts are from Europe, constituting almost 60 percent of all contracts. 11 contracts are from the Middle East, six from the Asia-Pacific area, four from the Americas, and one from Africa. Currently, nearly two-thirds of all 5G base stations are built by Huawei, Xu said.

Huawei began its investment in 5G in 2009, and a total of $4 billion has been spent, Xu noted. Previously, Huawei also announced that the company plans to deploy 500,000 5G base stations this year, and over 2 million in the next two years.