The consequences of US sanctions will not be so terrible: Huawei's chief

Renn Zhengfey, founder and CEO of the company, could not predict the impact of US sanctions on China-based technology company Huawei would be so dire. He told me how awful he was. After US sanctions, Huawei’s smartphone sales declined 40 percent. This will reduce the company’s earnings in the current year and next year, about 10 billion US dollars.

Huawei officials had come to claim their own technically self-sufficient by not recognizing the US since the ban was imposed. The company’s top official said on Monday that for the first time in another tune.

Reuters said on Monday, the company’s head office, Ryan Zhangfai said that the company could not predict the ‘stubborn’ position of Huawei that would hit ‘the strong and the widespread’.

On Sunday, Bloomberg reported that Huawei, one of the world’s top technology companies, is expected to lose 40 to 60 percent of the sales of smartphones. After not mentioning a specific time on Monday, Huawei’s chief told the smartphone market to decline by 40 percent in the international market. Huawei had announced last year $ 10 billion and 400 million US dollars. Also, the company expects to earn 12 billion dollars in revenue this year.

Ryan said, “We did not think the United States would attack us in so many ways.”

“We can not buy equipment, I can not go to many international organizations, I can not work with many universities, I can not use any parts of the United States. Even the networks that use US technology cannot establish contact with them, “added Rane.

However, in the next year, despite the hope of getting water in business in 2021, Rane expects.

In addition, Rane also said that Huawei will not reduce the allocation for research work even if the company’s income is reduced.