According to U.S.-based news channel CNBC, Ren Zhengfei stated that the company does not expect any trouble in the Chinese market, as the major concern is about global sales.<\/p>\n
Zhengfei, who is also founder of the company, noted that a $30 billion loss is not a big deal for Huawei.<\/p>\n
He said that the company’s current loss is below 20% compared to last year — in the worst case there may be a 40% drop.<\/p>\n
The tech giant’s CEO added that restrictions imposed on Huawei will not be a problem as the company expects more than a $100-billion-revenue in 2019.<\/p>\n
Last month, U.S. President Donald Trump signed an executive order declaring a national emergency over “threats against information and communications technology and services” in the U.S., slapping Huawei with sanctions and blacklisting the company from doing business with U.S. firms.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese tech giant Huawei will generate $30 billion less in revenue this year due to the recent sanctions, the company’s CEO said Wednesday. According to U.S.-based news channel CNBC, Ren Zhengfei stated that the company does not expect any trouble in the Chinese market, as the major concern is about global sales. Zhengfei, who is …<\/p>\n","protected":false},"author":3,"featured_media":63886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,80,63,51,1,118,167],"tags":[68379,907,37884],"class_list":["post-63885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia","category-breaking-news","category-daily","category-economy","category-general","category-hot","category-technology","tag-ceo","tag-chinese","tag-huawei-technologies"],"_links":{"self":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/63885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/comments?post=63885"}],"version-history":[{"count":0,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/posts\/63885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/media\/63886"}],"wp:attachment":[{"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/media?parent=63885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/categories?post=63885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationalturk.com\/en\/wp-json\/wp\/v2\/tags?post=63885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}