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Huawei's rotating chairman says smartphone revenue will drop by at least $30-40 bln in 2021

reuters.com · 09/24/2021 04:48
Huawei's rotating chairman says smartphone revenue will drop by at least $30-40 bln in 2021

- China's Huawei Technology HWT.UL will see revenue from its smartphone business drop by at least $30-40 billion this year as the company continues to grapple with U.S. restrictions on its supply chain, its rotating chairman Eric Xu said.

While the firm has been "getting used to U.S. 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.


(Reporting by David Kirton; Editing by Kirsten Donovan)

((David.Kirton@thomsonreuters.com;))