The firm sees an increasing demand for its components next year as China pushes ahead with the fifth generation of cellular technology.
Huawei and ZTE are believed to be the two leading clients for 5G capacitors and Shoichi Tosaka, CEO, Taiyo Yuden predicts Huawei alone will reach 100 million 5G smartphone shipments in the coming year, GSMArena reported on Friday.
According to Tosaka, the company has already received its yearly 5G base station orders and expects orders for 5G smartphone components in the coming weeks as well.
Meanwhile, the Chinese tech behemoth has decided to beef up business in South Korea by increasing purchase of parts for network equipment and smartphones, amid continued US sanctions.
Karl Song Kai, head of Huawei's global media and communications, said last week that the company also planned to increase investment in South Korea, but he didn't specify the numbers.
"In 2020, we'll buy more Korean-made products and invest more in South Korea," he said.
The Chinese tech firm, the top telecom gear-maker and the second-largest mobile phone manufacturer in the world, said its product purchases in South Korea were expected to surpass 13 trillion won ($11.1 billion) this year, slightly up from last year's $10.6 billion, according to Yonhap news agency.
The US also imposed a ban on Huawei that prevents the Chinese firm from buying American-made parts, such as chips and software. But such sanctions have made Huawei turn its eyes to non-American vendors, including South Korea.
( With inputs from IANS )