The founder and CEO of the Chinese technology company Huawei, Ren Zhengfei, has predicted that the firm’s revenues will be close to 27,000 million euros (30,000 million dollars) below what was expected after the United States veto of its products. Zhengfei has also announced that international sales of smartphones have fallen 40% this year.
The head of the technology giant has indicated that sales turnover will fall to 89,200 million euros (100,000 million dollars) this year and next, which would mean a decrease of around 10% compared to the data of 2018.
At the beginning of the year, Ren had explained in an interview that the company’s forecast was to reach 111.5 billion euros (125 billion dollars) in revenue this year.
However, at a round table held on Monday at the company’s headquarters, in Shenzhen (southeast China), Ren said that in the next two years “we will reduce our capacity”, although he envisioned that by 2020 “we will be able to take inertia again of growth. ”
The veteran businessman said that the “setbacks” faced by Huawei “have not been caused by” American companies, but by “politicians,” in a clear allusion to the Government led by Donald Trump, who claims that the Chinese firm is a danger to your national security.
“The United States government is very determined to take extreme measures against Huawei, but these restrictive measures will not stop us,” said Ren, who was optimistic about future cooperation with companies in the US, despite Washington recently banned.
“In the last 30 years, the development of Huawei has received support from companies around the world. In the past, when we were still not so strong, we were determined to work alongside American companies. In the future we will be even more determined to work with American companies, “he said.
Despite international accusations about the security of its equipment, Huawei gained 25.1% more in 2018, year in which it claimed to have sold 206 million mobile phones and billed 721.2 billion yuan (110.9 billion dollars, 94.8 billion euros) in sales.