Chinese tech giant Huawei has announced that it has signed a partnership deal with General Electric. The two companies are hoping that the partnership would help boost their productivity by developing new equipment and machines.

The latest deal between GE and Huawei is part of the former's plan towards what it calls "industrial revolution." A vision which aims to upgrade productivity and efficiency by integrating end-to-end intelligence and analytics with conventional robotics and machinery.

Like Us on Facebook

In a statement, Huawei executive board director William Xu said, "The next ten years are an important period for the traditional economy to move to a digital economy. Companies can not cope with all the challenges alone."

The partnership between the two tech giants was revealed during an event in Shanghai. During the same event, the companies also launched a new facility which reportedly cost $11 million. The new facility will serve as a co-working space which will incubate startup firms.

As part of its productivity and efficiency drive, GE is looking to save around $500 million this year. The company has also expressed its desire to expand its software portfolio to diversify its revenue stream. According to Tech Node, GE is looking to boost its software-related revenue by $15 billion by 2020.

Many industry experts believe that with the new partnership between GE and Huawei, the latter can take advantage of GE's operating system called Predix, the same operating system that has been adopted by several state-backed companies and firms. GE can also benefit from Huawei's wide range of patents and extensive product portfolio.

TagsHuawei, GE, General Electronics, Huawei News, Huawei partnership, china