Technology: Huawei’s CEO reveals expected damage of US sanctions - PressFrom - US
  •   
  •   
  •   

TechnologyHuawei’s CEO reveals expected damage of US sanctions

13:35  17 june  2019
13:35  17 june  2019 Source:   theverge.com

Huawei says will fight U.S. prosecutors' motion to disqualify its lawyer

Huawei says will fight U.S. prosecutors' motion to disqualify its lawyer USA-CHINA/HUAWEI TECH (CORRECTED, UPDATE 3, PIX):REFILE-UPDATE 3-Huawei says will fight U.S. prosecutors' motion to disqualify its lawyer

“ US law prohibits exports of certain US -origin technologies to certain countries,” he said. “When Huawei pays to license certain US tech, it promises not to Last month, the United States imposed sanctions aimed at reducing exports of Iranian oil to zero and crippling Iran’ s economy, though China is one of a

US prosecutors have indicted Huawei and its finance chief , Meng Wanzhou, on charges including sanctions evasion. Meng, who is also Ren' s Those next generation networks are expected to connect everything from smartphones and robots to self-driving cars and internet-enabled traffic signals.

Huawei’s CEO reveals expected damage of US sanctions© Illustration by Alex Castro / The Verge

Huawei’s CEO, Ren Zhengfei, says that he expects US sanctions to cause the company’s revenue to drop by billions of dollars, Reuters reports. The company expects its revenue to drop to $100 billion this year, down from around $104 billion last year. Previously it said it expected to make $125 billion in revenue. “We did not expect [the Trump administration] would attack us on so many aspects,” Ren said, although he added that the company did not expect to cut R&D spending or conduct large-scale layoffs.

The CEO had initially been defiant in the face of Trump’s executive order, and said that Huawei had contingency plans to deal with the ban. However, the full implications of the ban have since become more clear. Google has suspended the firm’s Android license, ARM will no longer sell it designs for its chipsets, and multiple countries are moving to suspend the use of Huawei’s networking equipment. Even its use of SD cards and Wi-Fi tech has been complicated, though not banned outright. Ren confirmed that these issues could result in a drop in international smartphone shipments of 40 percent, after Bloomberg reported that the company was preparing for a drop of as much as 60 percent. The company might not recover until 2021, the CEO said.

Huawei’s first 5G phone is launching this month.
Coming to markets including China, the UAE and Italy

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!