Huawei's rotating chairman says smartphone revenue will drop by at least $30-40 billion in 2021
Global Economy
24 September, 2021, 03:15 pm
Last modified: 24 September, 2021, 03:17 pm
While the firm has been "getting used to US sanctions" imposed on it since 2019, its new 5G related business areas cannot offset the losses from the handset business, Xu said
People arrive to attend the Huawei keynote address at the IFA 2020 Special Edition consumer electronics and appliances trade fair in Berlin on Sept. 3. SEAN GALLUP/GETTY IMAGES/Foreign Policy
China's Huawei Technology will see revenue from its smartphone business drop by at least $30-40 billion this year as the company continues to grapple with US restrictions on its supply chain, its rotating chairman Eric Xu said.
While the firm has been "getting used to US sanctions" imposed on it since 2019, its new 5G related business areas cannot offset the losses from the handset business, Xu said at a press conference in Beijing on Friday.
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