“In the next two years, I think we will reduce our capacity, our revenue will be down by about $30 billion compared to the forecast, so our sales revenue this year and next year will be about $100 billion,” Ren Zhengfei said during a panel discussion at Huawei’s headquarters in Shenzhen.
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The embattled Chinese tech firm has become a flashpoint in the US-China trade war. The Trump administration delivered a huge blow on May 16, when it added Huawei to a blacklist that bars US companies from selling it technology without first obtaining a US government license.
Washington fears that Beijing could use its equipment to spy on other nations and it’s been pressuring allies to shut the company out of next generation super-fast 5G wireless networks. Huawei has repeatedly denied that any of its products pose a risk to national security.
