Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Huawei says revenue will be $30 billion less in next 2 years due to US ban
Fox Business ^ | 06/17/2019 | Katherine Lam

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 ...


TOPICS: Business/Economy; Computers/Internet; Society
KEYWORDS: 5g; ccp; china; georgesoros; huawei; telecom

1 posted on 06/17/2019 1:55:59 PM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

$30 billion ,how will the Chinese Communist Party party now ?


2 posted on 06/17/2019 1:58:43 PM PDT by butlerweave
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Wow. This is basically an ad for Trump’s reelection.


3 posted on 06/17/2019 2:03:23 PM PDT by for-q-clinton (This article needs a fact checked)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
The company's current situation "is not caused by American businesses, but rather by certain politicians' different perspectives,"

He that shall not be named. AKA our own American superhero.
4 posted on 06/17/2019 2:04:47 PM PDT by JoSixChip (Trump stands alone.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Anyone who thinks Xi is not connected to Huawei raise your hand.


5 posted on 06/17/2019 2:17:12 PM PDT by bigbob (Trust Trump. Trust the Plan.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

6 posted on 06/17/2019 2:26:40 PM PDT by EEGator
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

“” “I think both sides will suffer. No one will win.”

ummm, Trump won. There’s no participation trophy in business...


7 posted on 06/17/2019 2:28:20 PM PDT by max americana (Fired libtards from our company & did so happily at every election since 2008. I hope all libs die.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: max americana
Oh, I am soooooo upset I can't get a huawei phone...I am suffering... NOT .
8 posted on 06/17/2019 2:37:53 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
[ Post Reply | Private Reply | To 7 | View Replies]

To: butlerweave

$30 billion here, $30 billion there, and pretty soon you are talking about real money.


9 posted on 06/17/2019 2:39:55 PM PDT by wildcard_redneck
[ Post Reply | Private Reply | To 2 | View Replies]

To: SeekAndFind
Allow me to translate:

“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"

10 posted on 06/17/2019 2:45:52 PM PDT by Zeppelin (Keep on FReepin' on...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

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!


11 posted on 06/17/2019 3:14:11 PM PDT by John S Mosby (Sic Semper Tyrannis)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Zeppelin

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.


12 posted on 06/17/2019 3:16:42 PM PDT by John S Mosby (Sic Semper Tyrannis)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Zeppelin

Nicely done!


13 posted on 06/17/2019 3:28:12 PM PDT by TigersEye (This is the age of the death of reason.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: SeekAndFind
Looks like the Chinese military will have to take a $30 billion cut.

Too Bad, So Sad!
14 posted on 06/17/2019 5:57:04 PM PDT by glaseatr (Father of a Marine, Uncle of SGT Adam Estep. A Co. 2/5 Cav. KIA Thurs April 29, 2004 Baghdad Iraq)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bigbob

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...


15 posted on 06/17/2019 6:01:24 PM PDT by Bobalu (McCain will be like Hell's Walmart greeter for the other traitors when they arrive.)
[ Post Reply | Private Reply | To 5 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson