Last year, Huawei had set a goal of becoming world’s number one smartphone brand by 2021. However, the recent ban that restricts it from carrying out business with U.S. based companies has affected its business to such an extent that it has decided to hold its plans of becoming the world’s top smartphone manufacturer. During an event at Huawei’s Shenzhen headquarters with two U.S. tech experts, Huawei Technologies Co. Ltd CEO Ren Zhengfei said that the company expects a sales declines to around $100 billion this year and in 2020.
In 2018, Huawei had recorded a revenue of 721.2 billion Yuan (~$104.16 billion). Its revenue had increased by 19.5 percent compared to the year 2017. Ren is of the view that Huawei’s business will be revived in 2021. He added that even though the company’s finances have been affected, it will continue to spend on research and development.
Some of the leading companies such as Google, ARM, Qualcomm, and Intel have severed ties with Huawei. A recent report had revealed that the ban has not just affected Huawei’s business in the U.S., but also across regions in Europe and Asia.
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A recent report had claimed Huawei’s own HongMeng OS is 60 faster than Android OS. The Chines firm is reportedly working on its self-developed OS for its devices since it isn’t allowed to use Android OS with Google services on upcoming devices.
Soon after announcing the trade ban on Huawei in May, the US government had eased the situation by delaying it by 90 days. It remains to be seen whether the U.S. authorities extend the ban or cancels it. If the ban continues, the Chinese firm may announce its own OS by the third quarter of the year.
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