According to him, this will not stop the company.
Huawei founder and CEO Ren Zhengfei said the company will earn $ 30 billion less than expected in the next two years. He called the actions of the US government “extreme measures.” This was reported by the Associated Press with reference to the speech of Zhenfey in the headquarters of Huawei.
According to the head of Zenfei, the company now expects revenue of $ 100 billion annually in the next two years. At the same time in 2019, she was hoping to earn 125 billion dollars, and a year earlier she had gained 105 billion dollars. If the current forecast comes true, in 2019 and 2020 Huawei’s revenue will be $ 5 billion lower than in 2018.
Genfey also explained that in his company’s products there are “no backdoors that anyone could get access to”. He also spoke about his readiness to conclude an agreement on the absence of backdoors with any country that requires it.
According to Zhenfey, Huawei did not expect that the US authorities would apply such broad restrictions against the company. He called them “extreme measures.”
I think both sides will suffer. No one will win.
Ren Zhenfey head of huawei
At the beginning of June 2019, the Chinese company sold the business of Internet cables because of problems with concluding contracts, and also decided not to release the MateBook laptop because of the US trade sanctions and the Mate X flexible screen smartphone to “conduct thorough tests.”