Huaweis Founder Ren Zhengfei Says Revenue Will Be Billions Below Forecast

huawei revenue

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Huawei founder says revenue will be $30 billion below forecastI think both sides will suffer said Huaweis founder of the U. But the Chinese market is growing rapidly he added. placed Huawei on its Entity List which effectively bars American companies from selling components to Huawei without government approval. In response Huawei brought a lawsuit in the U. government and its contractors from using Huawei equipment. However the US government is actively urging allies to follow its lead and has now banned American firms from doing business with Huawei. It is claimed that chipmakers including Intel and Qualcomm have been urging Washington to ease the restrictions on Huawei. Huawei founder and CEO Ren Zhengfei estimates the tech companys revenue will be $30 billion less than forecast over the next two years due to the U. governments ban and ongoing trade dispute with China. The tech giant will continue to collaborate with other companies and countries

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