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#Global Brief

Huawei CEO Expects US Ban To Cost Them $30 Billion In Revenue

   

If you a smartphone aficionado then you’ll know very well that the US placed Huawei under a trade ban and the Chinese technology company really has its back against the ropes.

Huawei’s CEO Ren Zhengfei said he expected the ban to heavily impact revenues negatively to the tune of $30 billion in lost revenue this year. The CEO also spoke of the harshness of the ban which he says came as a surprise:

We did not expect they would attack us on so many aspects. 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.

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Huawei CEO Ren Zhengfei

Huawei expected their revenues for the year to be around $130 billion but after the ban they now believe they’ll end somewhere closer to $130 billion. The ban really takes the steam out of Huawei push for dominance as the company was still growing year on year smartphone sales despite their competitors struggling to achieve that feat.

Hopefully the ban can be reversed and Huawei can start collaborating and making technologies that can be used globally and not just in China. I do feel that there is a chance the ban might be reversed as this was the case with ZTEs ban last year. Huawei’s ban has less to do with security issues and more to do with trade talks than anything so the door isn’t entirely closed for Huawei.

A deciding factor will lie ultimately in how China responds to the block. If they make it harder for American companies to make products in China the war could escalate and go to the point of no return.


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