Wednesday, 17 July 2019 02:36 GMT
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Huawei to slash USD41b of production




(MENAFN) China's telecom giant Huawei decided to cut its output within a two-year period amid intensified tensions with the United States.

Found of the Chinese giant Ren Zhengfei announced: "in the coming two years, the company will cut production by US$30 billion (S$41 billion)."

Sales, the founder suggested, are likely to suffer sharp declines to about USD100 billion by 2020 since U.S. sanctions are affecting the company.

Last year, the company achieved USD142.7 billion in its revenue to mark a 19.5 percent boost from figures seen a year earlier.

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Huawei to slash USD41b of production

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