Huawei estimates losses due to US sanctions

Chinese tech giant Huawei, the second smartphone maker after Samsung, for the first time officially estimated the losses from US sanctions: it is $30 billion over the next two years and 40% of the company's foreign smartphone sales. This was announced by the founder of Huawei Ren Zhengfei. Instead of a target revenue of $125 billion in 2019, the company will receive only about $100 billion, which is less than in 2018 ($107 billion).

Quote. "We did not expect such a decisive attack on Huawei from the US."

• Less than a month after being blacklisted by the United States, Huawei has postponed to September the launch of the $2,600 Mate X foldable smartphone, the launch of its first laptop, and may reschedule the European launch of the Honor 20 mainstream smartphone.
• The US is at risk of losing $11 billion that Huawei spent on the purchase of American products. Broadcom (a leading communications chip maker) said last week that its revenue will be $2 billion less due to supply restrictions on Huawei.
• The White House does not deny that a separate clause on Huawei will be included in the trade agreement between the United States and China. Negotiations between the countries may take place at the G20 summit in Osaka on June 28-29.
• We similarly wrote about the causes of Huawei's troubles in the USA here , about the history of the company and the personality of Ren Zhengfei - here .