Huawei CEO says US ban will wipe away $30bn in revenue & more – full details

The U.S trade ban and continued war between China and Trump, has already impacted Huawei in a massive way. But now Huawei CEO went on record to reveal exactly the costs and more.

“Our revenue will be down by about $30 billion compared to forecasts. So our sales revenue this year and next will be about $100 billion,” Ren noted in a discussion in Shenzhen. The Huawei CEO expressed surprise at the extent of the U.S. trade ban.

“We didn’t expect the U.S. would so resolutely attack Huawei. We didn’t expect the U.S. would hit our supply chain in such a wide way, not only blocking the component supplies, but also our participation in international organisations,” Ren said.

Ren confirmed that Huawei’s international smartphone sales dipped by 40 percent as a consequence of the ban.

Ren, the Huawei CEO also said the firm was hoping to maintain its R&D budget, and steer clear of major asset sales or layoffs. In the case of the latter, Ren said Huawei would likely assign employees in non-core businesses to core businesses in a bid to avoid layoffs. Do you think Huawei will emerge from the U.S. ban as a stronger company? Let us know in the comments.

Some big numbers!

Source

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