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Huawei Technologies Co Ltd is preparing for a 40% to 60% drop in international smartphone shipments, Bloomberg said.
The Chinese tech company is studying various options, including the draw of the latest model of its renowned overseas smartphone, the Honor 20, according to the article that quotes people close to the record.
The device will begin to be sold in parts of Europe, including Britain and France, on June 21, the report said. Leaders will monitor the launch and could cut shipments if sales are poor, he added.
The tech and marketing executives expect a drop of 40 million to 60 million smartphones this year, according to the report.
In order to offset the decline abroad, Huawei is aiming to capture up to half of the Chinese smartphone market in 2019, Bloomberg said. The company has not responded to a request for comment from Reuters.
In May, the US government ranked Huawei, the world's largest telecommunications equipment company, on a blacklist of trade, banning US suppliers from dealing with it because of Washington's national security concerns.
At the time, Huawei's founder and CEO, Ren Zhengfei, said the restrictions "could slow down, but slightly" the company's growth.
A similar ban on the US company ZTE Corp China, a company almost paralyzed for the rival of Huawei at the beginning of last year, before the lifting of the closure.
The woes of society are fueling trade tensions between Washington and Beijing. President Donald Trump said the US's complaints against Huawei could be resolved under any trade deal.
The ban was slightly relaxed to allow a temporary general license allowing Huawei to buy US products.
However, Broadcom shocked the global chip industry last week by predicting that US-China trade tensions and Huawei's ban would cut sales by $ 2 billion. of this year.Subscribe to Moneycontrol Pro and benefit from access to market data, exclusive business recommendations, independent stock badysis, actionable investment ideas, macro-level decision-making, business and politics, practical information from market gurus etc.
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