Huawei founder Ren Zhengfei has said revenues for his company will be $30 billion less than forecast over the next two years.
He said that the Chinese telecom giant will greatly reduce capacity but he was firm that The U.S ban will not bruise their spirits and their hard work. Zhengfei likened the company’s situation to a badly damaged plane.
U.S President Donald Trump issued an executive order on 15th May which banned US companies from using info and communication technology from tech companies considered a threat to national security and Huawei was the target here
Afterwards, many other U.S firms began to back away from doing business with Huawei beginning with Google and even chipmakers like Intel, Qualcomm, and Broadcom said they’re not supplying Huawei as well though as of the moment these U.S CHIPMAKER suppliers are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying.