⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Huawei

Huawei Revises Revenue Estimates for 2019 and 2020 After US Ban

Posted Monday, June 17, 2019 by
Arslan Butt • 1 min read

Huawei’s CEO has revised revenues for the company as a result of the US ban, estimating revenues to dip to around $100 billion in 2019 and 2020. Previously, the company had expected revenues to touch $125 billion this year, up from a little over $104 billion in 2018.

This is the first time that Huawei has put a number on the potential loss as a result of the US government’s decision to add Huawei and its affiliates to a trade blacklist. According to Founder and CEO, Ren Zhengfei, Huawei’s international smartphone shipments could decline by 40%, while Bloomberg pegs this figure anywhere between 40% and 60%.

Ren, however, remains hopeful that the company’s revenues will pick up again by 2021. Another sign of optimism is that his company remains set to maintain its R&D budget despite the financial setback.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments