Huawei founder Ren Zhengfei speaks at a roundtable at the telecom giant's headquarters in southern China on June 17.
Huawei's founder likened his company to a badly damaged plane Monday and said revenues would be $30 billion less than forecast over the next two years. The Chinese telecom giant will reduce capacity, Ren Zhengfei said, but U.S. moves to restrict its business"will not stop us." The U.S. has put Huawei on a blacklist, meaning that American companies that want to sell parts to Huawei will need approval from the U.S. Commerce Department.
Ren said, on a panel at company headquarters, it never occurred to Huawei that the American government would be so determined to take such a wide range of what he called extreme measures against the company.
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