China’s Huawei expects a $30 billion dent in revenue—for the first time quantifying the potential impact of the U.S. blacklisting
The U.S. campaign against Huawei Technologies Co. is taking a toll, with the company’s founder forecasting a hit to revenue of about $30 billion over the next two years.
Ren Zhengfei said he expects revenue of about $100 billion for Huawei in 2019, a decline from last year’s roughly $107 billion, following lower-than-expected growth in the wake of a U.S. export blacklisting and other actions against the Chinese technology giant. Mr. Ren had earlier targeted 2019 revenue to come in around $125 billion. The privately held...The U.S. blacklisting of Huawei is cutting off American businesses from a big client.
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