Huawei's founder and CEO, Ren Zhengfei, said he expects US sanctions to reduce the company's multi-billion dollar revenue. Reuters reports. The company expects its revenues to fall to about $ 100 billion this year, from about $ 104 billion last year. Previously, she had announced revenues of $ 125 billion. "We did not expect to [the Trump administration] we would be attacking on so many aspects, "said Ren, although the company does not expect to reduce R & D spending or layoffs massively.
The CEO had initially been provocative in the face of the Trump executive order and had said that Huawei had urgent plans to deal with the ban. However, all the implications of the ban have become clearer since then. The company's Android license has been suspended by Google, ARM will no longer sell the designs of its chipsets and many countries are considering suspending the use of Huawei's network equipment. Even its use of SD cards and Wi-Fi technology has been complicated, although not totally prohibited. Ren confirmed that these problems could lead to a 40% decline in international smartphone shipments, after Bloomberg indicated that the company was preparing for a fall of up to 60%. The company may not recover until 2021, said the CEO.