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Huawei acknowledges the loss of "billions" of US punishment
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China's Huawei expects billions of dollars in revenue this year due to US
sanctions due to concerns over US national security.
Huawei, which has achieved impressive success in recent years, has expected its revenues to fall to $ 100 billion in 2019, while the figure reached $ 107 billion last year.
Huawei's founder and chief executive officer, Ren Xingfai, was expected to attend a technical event on Monday.
In April, Huawei said its revenue rose 39 percent in the first quarter.
A Chinese company official criticized the US sanctions that included Huawei on the blacklist and banned US companies from supplying them with technology because of US national security concerns.
Washington has banned US companies from selling technology and microchip platforms that Huawei relies on for the manufacture of smart phones and other devices.
According to the Wired website, the US ban is likely to cost $ 30 billion in 2019 and 2020.
Meanwhile, sales of Huawei's phone outside China dropped by 40 percent over the past month. The Chinese official said he did not blame US companies, as it happens, but American politicians.
http://economy-news.net/content.php?id=16971
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