Huawei's founder has predicted the company's revenue will take a $30bn hit over two years from US restrictions on its business.
Ren Zhengfei told a panel discussion the technology firm had downgraded its targets but said research and development spending was protected. The company was effectively blacklisted in the US last month as the Trump administration seeks to protect its interests from, what it sees as, the threat of spying and forced technology transfers by the Chinese state as the two nations fight a trade war.
Huawei, which is the global leader in 5G technology, has repeatedly denied accusations that laws imposed by Beijing require corporate entities to cooperate if information is required.Mr Ren said:"We never thought that the US's determination to attack Huawei would be so strong, so firm.
Wht ppl just want all the power they want to continue to run this planet and continue to destroy the planet
Wow... high level prediction... no wonder he got paid the BIG BUCKS 🙄
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