Huawei to take €27bn sales hit following harder-than-expected ban
China’s Huawei Technologies has taken a harder-than-expected hit from a US ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year.
Mr Ren’s downbeat assessment that the ban will hit revenue by $30bn (€27bn), the first time Huawei has quantified the impact of the US action, comes as a surprise after weeks of defiant comments from company executives who maintained Huawei was technologically self-sufficient.
