Huawei recently announced that the company has acquired a site in Guangzhou, China, for 339 million RMB (US$), on which it will build a new R&D center, the Commercial Times reported on December 10. With the area of 724,144 square meters, the new center will be dedicated to the research in smart car, cloud computing, and IoT (Internet of Things) technologies and applications. Following the U.S. ban, Huawei has been shifting focus from smartphones to smart car, PC, and wearable products. According to MIC (Market Intelligence & Consulting Institute), a major government think tank and leading IT research institute in Taiwan, the number of global Wi-Fi connected devices is estimated to reach 3.7 billion units by 2024, representing a 4.1% CAGR for the period 2018-2024. By 2024, MIC predicts there will be 166 million notebook PCs and 300 million connected wearables worldwide.