Huawei was known to have stockpiled a large number of chips over the past several months in anticipation of U.S. government action. Company CEO Ren Zhengfei initially said that the U.S. government was updating Huawei’s capabilities and declared that the ban would have no impact on Huawei’s planned rollout of 5G technology.
But this week, Zhengfei acknowledged that the U.S. ban will hit Huawei’s sales harder than he initially expected.
Huawei slashed its revenue forecast for this year by as much as $30 billion, lowering its sales target to about $100 billion, from previous estimates of $125 billion to $130 billion.
The Bloomberg News service has reported that Huawei is expecting its international smartphone shipments to drop by some 40% to 60%.
Source: Can Huawei Survive? | EE Times