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Huawei's consumer segment became its largest division in 2018, surpassing its core network business. Huawei launched its first Huawei brand smartphone in 2010. It was a cheap phone and, during its early years, the company launched cheap devices.
Ren admitted that the company had made mistakes in its strategy for smartphones, but said he learned from them.
"We set prices on the basis of our relatively low costs – our costs were low for two reasons: First, thanks to the rapid evolution of our technology, we have been able to reduce the cost of our products Second, thanks to imported Western management approaches, our operational costs have also been kept low, "he said.
"As a result," he added, "we have set our prices at a relatively low level, which has made it difficult for Western companies to compete with us, and we have thought a lot about that."
"We have increased our prices and many people now think that Huawei is expensive," he added.
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