Huawei Technologies Co Ltd's founder and CEO Ren Zhengfei said the impact o...
HONG KONG - Huawei Technologies Co Ltd’s founder and CEO Ren Zhengfei said the impact of a U.S. ban on the Chinese company was more severe than expected and warned that revenue would dip to around $100 billion this year and the next.
Huawei had not expected that U.S. determination to “crack” the company would be “so strong and so pervasive”, Ren said, speaking at the company’s Shenzhen headquarters on Monday. Huawei’s international smartphone shipments will drop 40%, Ren said on Monday, without specifying a period. Bloomberg reported on Sunday that the tech giant was preparing for a 40% to 60% decline in international smartphone shipments.
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