Huawei Technologies Co Ltd’s founder and CEO Ren Zhengfei said the impact of a US ban on the Chinese company was more severe than expected, and warned that revenue would dip to around US$100 billion
this year and the next.
Huawei had not expected US determination to “crack” the company would be “so strong and so pervasive,” Ren said, speaking at the company’s Shenzhen headquarters on Monday. The ban has forced companies, including Alphabet Inc’s Google and British chip designer ARM, to limit or cease their relationships with Huawei.
Huawei had reported revenue of 721.2 billion yuan last year, and said a few months ago it expected revenue this year to jump to US$125 billion.
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