The company was
effectively blacklisted in the US last month as the Trump administration seeks
to protect its interests from, what it sees as, the threat of spying and forced
technology transfers by the Chinese state.
Chinese electronics giant Huawei's
founder has predicted the company's revenue will take a $30bn (£23.8bn) drop
over two years as a result of US restrictions on its business. Mr. Ren Zhengfei
told a panel discussion the technology firm had downgraded its targets but said
research and development spending was protected.
The company was
effectively blacklisted in the US last month as the Trump administration seeks
to protect its interests from, what it sees as, the threat of spying and forced
technology transfers by the Chinese state as the two nations fight a trade war.
Huawei has also cancelled a laptop launch
and is delaying its
foldable smartphone. The company is now starting to see hard numbers for just
how much the Trump Administration's export ban is affecting their business
globally.
A report from Bloomberg claims to
detail Huawei's internal estimates, saying the company is expecting a 40 to 60
percent drop in international smartphone shipments due to the export ban.
Huawei does about half its smartphone business internationally, and with 206
million phones sold in total in 2018, this would work out to about 40 million
to 60 million sales lost.
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