Huawei will lose 30 billion dollars in revenue due to US sanctions


Ren Zhengfei, founder and chief executive officer of the Chinese telecommunications company Huawei Technologies, estimated its losses from US sanctions at $30 billion in revenue over the next 2 years. He expects revenue in this and next years to be approximately $100 billion, maintaining the 2018 level. The sanctions allowed supplying American technology and components of Huawei only on the basis of special licenses. If the company loses access to Android updates, its sales of smartphones abroad will fall by 60%. Huawei CEO fears that the company may lose its competitive advantage. The company's management is trying to find alternative opportunities in order to preserve its existing advantages in the implementation of smartphones and the development of the G5 segment. The company also plans to intensify the production of its own chips.

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