Posted on 06/17/2019 1:55:59 PM PDT by SeekAndFind
Huawei Opens a New Window. founder and CEO Ren Zhengfei estimates the tech company’s revenue will be $30 billion less than forecast over the next two years due to the U.S. government’s ban and ongoing trade dispute with China Opens a New Window. .
"We never thought that the U.S.'s determination to attack Huawei would be so strong, so firm," Ren said Monday during a panel discussion at company headquarters in Shenzhen. “…We cannot get components supply, cannot participate in many international organizations, cannot work closely with many universities, cannot use anything with U.S. components, and cannot even establish connection with networks that use such components.”
Ren said Huawei’s sales revenue for the next two years will be about $100 billion — down from the previous target he made in February of $125 billion in 2019. The tech giant brought in a revenue of about $105 billion last year. The CEO added that the company will reduce its capacity in the next two years
He said Huawei’s international cellphone sales will also drop by 40 percent.
The company's current situation "is not caused by American businesses, but rather by certain politicians' different perspectives," Ren said while comparing the tech giant's current state to a "badly damaged plane." "I think both sides will suffer. No one will win."
Despite the setbacks, Ren said the company will still move forward with research and development and will not conduct massive layoffs. The tech giant will continue to collaborate with other companies and countries.
(Excerpt) Read more at foxbusiness.com ...
$30 billion ,how will the Chinese Communist Party party now ?
Wow. This is basically an ad for Trump’s reelection.
Anyone who thinks Xi is not connected to Huawei raise your hand.
“” “I think both sides will suffer. No one will win.”
ummm, Trump won. There’s no participation trophy in business...
$30 billion here, $30 billion there, and pretty soon you are talking about real money.
“We cannot get components supply"
"We cannot steal US designs"
"[We] cannot participate in many international organizations"
"We cannot infiltrate our competitors"
"[We] cannot work closely with many universities"
"Our student spies can't steal R&D"
"[We] cannot use anything with U.S. components"
"We got caught stealing and now we are being penalized"
"[We] cannot even establish connection with networks that use such components.” "
"We cannot install our spyware"
Damn right and damn good— hurt them some more... they were trying to completely take over with 5G and their special little chips.
worldgov run by chi-coms and bought dogs in our own so-called gubmint apparatchiks and rake-offs.
VOTE TRUMP!
Precisely-— Brilliant translation. The same people who shipped toys to the US with Lead paint, and “Grade A” animal feed mixed with plastic melamine (killing livestock and pets) so the amino acid apparent scan would be super high— and the melamine soluble plastic.... zero nutritional value and toxic. The same chiseling lying chi-coms.
Nicely done!
Huawei is toast...as it should be.
Alphabet (google, youtube..et al) will likely be found to have assisted the Chinese gov in their evil cyber deeds...
IMO a lot of leverage was applied to Alphabet to force them to cut Huawei off from Android just hours after Trump called Huawei out....just speculate on what the basis for such enormous leverage was...
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