June 17, 2019
Huawei has confirmed (click here) that it is anticipating a giant drop in smartphone sales this year after it was blacklisted by US President Donald Trump's administration.
Speaking at a live-streamed event at Huawei's headquarters in Shenzhen on Monday, the company's founder Ren Zhengfei confirmed a report by Bloomberg that sales of its phones outside of China could plummet 40%.
Citing sales and marketing sources, Bloomberg pegged the drop at between 40% and 60%, which it said would equate to a decline in shipments of between 40 million and 60 million smartphones. Huawei said it shipped 206 million phones last year....
...Ren added that he is expecting a revenue hit of around $25 billion because of the ongoing issues in America. Huawei had forecast earlier this year that it's total 2019 sales would hit $125 billion, but the CEO said on Monday that this has now been revised down to around $100 billion. Huawei's revenue stood at $105 billion last year....
