Saturday, October 24, 2020

Huawei expects sales to drop to $ 100 billion by 2020

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Huawei Chief Executive Ren Zhengfei said that the company’s sales to fall to nearly $ 100 billion in 2019 and 2020,

Due of the crisis that occurred after the sanctions and the US pressure on the company.

The company posted revenues of $ 104.16 billion last year, up 19.5 percent from 2017, but it will fall this year and next, but Zhengfei said the sales will rise again in 2021.

Zhengfei said the company would not reduce Research and Development spending despite the expected blow to the company’s money.

After the United States blacklisted Huawei, US companies were barred from dealing with it, which is why the company will face losses.

Read also: After US embargo on Huawei .. List of companies abandoned the technology giant

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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