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Huawei Says US Ban Will Cost It $30B In Lost Revenue by nigeriapenbase: 4:46pm On Jun 17, 2019
TechNews By Topmag.pw

The trade restrictions from the U.S., China’s telecoms equipment and smartphone maker Huawei expect its revenues to drop $30 billion below forecast over the next two years, founder and chief executive Ren Zhengfei said Monday during a panel discussion at the company’s Shenzhen headquarters.

Huawei’s production will slow down in the next two years while revenues will hover around $100 billion this and next year, according to the executive. The firm’s overseas smartphone shipment is tipped to drop 40%, he said, confirming an earlier report from Bloomberg.

Huawei Boss, Ren assured that Huawei’s output will be “rejuvenated” by the year 2021 after a period of adjustment.

Huawei’s challenges are multifaceted as the U.S. “entity list” bars it from procuring from American chip makers and using certain Android services among a list of other restrictions. In response, the Chinese behemoth recently announced it has been preparing for years its own backup chips and an alternative smartphone operating system.

“We didn’t expect the U.S. to attack Huawei with such intense and determined effort. We are not only banned from providing targeted components but also from joining a lot of international organizations, collaborating with many universities, using anything with American components or even connecting to networks that use American parts,” said Ren at the panel.

The founder said these adverse circumstances, though greater than what he expected, would not prevent the company from making strides. “We are like a damaged plane that protected only its heart and fuel tank but not its appendages. Huawei will get tested by the adjustment period and through time. We will grow stronger as we make this step.”

Heroes in any times go through great challenges,” reads a placard left on a table at a Huawei campus cafe, featuring the image of a damaged World War II aircraft.

Huawei That image of the beaten aircraft holding out during hard times is sticking to employees’ minds through little motivational placards distributed across the Huawei campus. TechCrunch was among a small group of journalists who spoke to Huawei staff about the current U.S.-China situation, and many of them shared Ren’s upbeat, resilient attitude.

“I’m very confident about the current situation,” said an employee who has been working at Huawei for five years and who couldn’t reveal his name as he wasn’t authorized to speak to the press. “And my confidence stems from the way our boss understands and anticipates the future.”

More collaboration

74-year-old Ren had kept a quiet profile ever since founding Huawei, but he has recently appeared more in front of media as his company is thrown under growing scrutiny from the west. That includes efforts like the Monday panel, which was dubbed “A Coffee with Ren” and known to be Ren’s first such fireside chat.

Speaking alongside George Gilder, an American writer and speaker on technology, and Nicholas Negroponte, co-founder of the MIT Media Lab, Ren said he believed in a more collaborative and open economy, which can result in greater mutual gains between countries.

“The west was the first to bring up the concept of economic globalization. It’s the right move. But there will be big waves rising from the process, and we must handle them with correct rather than radical measures,” said Ren.

Read More Here: http://topmag.pw/2019/06/17/huawei-says-us-ban-will-cost-it-30b-in-lost-revenue/


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Re: Huawei Says US Ban Will Cost It $30B In Lost Revenue by nigeriapenbase: 4:47pm On Jun 17, 2019

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Re: Huawei Says US Ban Will Cost It $30B In Lost Revenue by yomi96(m): 4:49pm On Jun 17, 2019
shey dem be dey form iron man. Dem go humble las las. USA is Gods own country. Death to iran and all enemies of progress both in 9ja and USA
Re: Huawei Says US Ban Will Cost It $30B In Lost Revenue by Ugosample(m): 5:39pm On Jun 17, 2019
I like the fighting spirit

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