Chinese telecom company Huawei Technologies Co has cut its India revenue target for 2020 by up to 50% and is laying off more than half of its staff in the country, the Economic Times reported on Monday, amid calls to boycott Chinese goods in Asia's third-largest economy.
FILE PHOTO: People are seen inside a Huawei store at a shopping mall in Beijing, China July 14, 2020. REUTERS/Tingshu Wang
Huawei is now targeting $350-$500 million in revenue for 2020, compared with roughly $700-800 million it was aiming earlier, the newspaper reported.
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