Huawei Technologies was incorporated in 1988 and headquartered in Shenzhen, China, Huawei Technologies is a private high-tech enterprise fully owned by its employees. Huawei specializes in the research and development (R&D), production and marketing of telecommunications equipment, providing customized network solutions for telecom carriers in fixed, mobile, optical network and data communications network. Sales in 2001 were US$3.1 billion. Huawei products have been put into wide applications in 38 countries including Germany, Spain, Russia, Brazil, Kenya, Egypt, Thailand, Singapore and South Korea. Among Huawei's 22,336 employees (as of Dec.31, 2001), 45.7 percent are engaged in R&D. Each year Huawei invests no less than 10 percent of its revenues into R&D.