Huawei founder says US ban could knock revenue to $100 billion

There new revelations that the United States’ ban on Huawei Technologies Co Ltd could have stronger negative impacts.

Huawei’s founder, Ren Zhengfei has just disclosed that he had underestimated the impact of the blacklist on the company.

Last year. the company reported a revenue of $104.16 billion. The company had projected that it expects to report up to $127 billion in annual revenue, the latest indication shows that Huawei could only struggle to rake in about $100 billion.

The US had in May placed Huawei, the world’s largest telecoms company on its ‘Entity List’ an implication that Huawei cannot do business and with any US company without getting confirmation from the government.

At the company’s headquarters in Schenzen, Ren said:

“We did not expect they would attack us on so many aspects,” Ren said but added that he expects a revival in the business in 2021.

“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 a connection with networks that use such components.”

Earlier today, we reported that Huawei could lose up to 60% of its annual smartphone shipment as a result of the ban.

According to a Bloomberg report, unnamed company sources disclosed that Huawei could lose up to 40-60 million sales in its device sales as a result of the ban.

The report claimed that the drop in sales could impact the Huawei the Honor 20 which will begin sales by the 21 of June across Europe including France and the UK.