Ren Zhengfei, the CEO and founder of Huawei, stated that due to the Trump’s administration ban of the firm, the company would collect $30 billion less revenue annually at the end of the year. Deirdre Bosa Ren said in an interview that the slashed revenue forecast is not a concern as the firm will still advance book over 1000 billion dollars in revenue in the running year that would approximately flat versus 2018.
Also, he said that consumer business of Huawei still healthy in China. Furthermore, he expressed that the overseas business taken as the real issue. He added that he does not perceive that problem for the reason that consumer business in the Chinese market has not seen a decline. Only if the company faces a decline in revenue, it will decline overseas. It will 40% in the worst case, but at present, it is less than 20%.
Ren explains it that type of decline is also in the state of variation. As he puts an eye to the consumer business decline, it might approximately around 10%, and it is not that big, he added. However, CEO of Huawei did not share the clear details for how Huawei is going to make up the decrease in the demand of its products after the United States ban. And according to the officials of the company, it might continue to face the ban for the next two years.
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They are doing some modifications internally in the company that’s why they project there could be a slowdown and still now it didn’t see any type of slow down. And they do not have an idea that at the end of the year, what will be the growth. However, according to them the $30 billion United States will be a tiny thing, Ren Zhengfei said. Due to the ban on Huawei, the ability of the firm to ship smartphones based on the Android operating system of Google will affect. Whereas, Google announced that it continues to deliver security updates for running devices of Huawei that are using Android.