Publicado: Mar, Junio 18, 2019
Financiera | Por Marilu Caballero

Huawei CEO says U.S. ban will wipe away $30bn in revenue

Huawei CEO says U.S. ban will wipe away $30bn in revenue

Huawei will miss sales forecasts by about $30 billion over the next couple of years because of a U.S. campaign against its business, the founder and CEO of the Chinese tech company said Monday. The sales revenue this year and next year will be around $100 billion.

In response, Huawei brought a lawsuit in the US this March challenging the constitutionality of a national security law which prevents the USA government and its contractors from using Huawei equipment. Indeed, the company has been banned from doing business with United States organizations, which means it had to stop its working relationships with chip manufacturers and even Google.

Huawei is at the center of the United States' trade war with China right now, although USA officials have cited security concerns when going forward with restrictions (although that might be a huge lie).

Ren said the company would be "reborn by 2021", adding that R&D spending will not be affected and that no massive layoffs are planned. It is not limited to the supply of components to Huawei but also affects the company's cooperation with U.S. universities and connections with American networks, he added.

A Huawei company logo is seen at a shopping mall in Shanghai, China June 3, 2019. While Ren denies that Huawei would share user data with the Chinese government if ordered to do so, Washington has been trying to convince its allies to exclude Huawei from their upcoming 5G rollout. -China trade talks hit rough waters, prompting assertions from China's leaders about the country's progress in achieving self-sufficiency in the key semiconductor business.

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Ren Zhengfei said frankly that he did not think that the strategic determination of the United States to crack down on Huawei would be so great and so unwavering.

After weeks of bold talk, Huawei has finally admitted that the US blacklisting of the firm will have a material impact on its revenues.

"We did make some preparations", he said at the event. If the company truly was banned as a matter of national security, preventing it from selling consumer devices in the U.S.

"It is about something else", Negroponte added. After flowing past Apple in 2018 by unit sales, Huawei expected to surpass Samsung in late 2018 to become the world's biggest maker of smartphones.

Mr. Ren has essentially confirmed this report by noting that Huawei has already seen a 40 percent drop in non-China smartphone sales because of the usa blacklisting. While he did not give the time period, a spokesman clarified the CEO was referring to the past month. Experts forecast anything between 40% and 60% fewer shipments worldwide.

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