Huawei says US ban will cost it $30B in lost revenue

Jun 17 2019 by TechCrunch

 

Following a string of trade restrictions from the U.S., China’s telecoms equipment and smartphone maker Huawei expects 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...

Continue Reading Huawei says US ban will cost it $30B in lost revenue