Huawei Hammered By U.S. Ban

HONG KONG (Reuters) - China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year. Huawei founder Ren Zhengfei attends a panel discussion at the company headquarters in Shenzhen, Guangdong province, China June 17, 2019. REUTERS/Aly Song Ren’s downbeat assessment that the ban will hit revenue by $30 billion, the first time Huawei has quantified the impact of the U.S. action, comes as a surprise after weeks of defiant comments from company executives who maintained Huawei was technologically self-sufficient.

http://feeds.reuters.com/~r/reuters/topNews/~3/2OiDXD8dQaU/huawei-says-u...

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Sky News 19 Jul 2019 13:00 CEST

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