Huawei to lose billions, revenue being hit hard by USA trade ban

Huawei expects its international phone shipments to drop by as much as 60 million units in 2019

Huawei expects its international phone shipments to drop by as much as 60 million units in 2019

Huawei's smartphone sales have hit already by the uncertainty.

The company is preparing for a drop of 40 million to 60 million in global smartphone shipments, and is considering various options including pulling its upcoming Honor 20 smartphone, which is set to launch in Europe on 21 June, Bloomberg reported, citing unnamed sources. While he did not give the time period, a spokesman clarified the CEO was referring to the past month.

Ren added, however, that sales growth in China's domestic market remained "very fast". As a comparison, the manufacturer shipped 206 million units past year, out of which about 50% were meant to be sold overseas.

So despite the collapse experienced this year, Huawei expects to recover by the end of 2021, at which point it should be able to aim for the stars once again. He did not specify which lines of business would be hit most.

Ren forecast that Huawei's revenue for 2019 will drop to about $100 billion- from about $107 billion last year-and that the networking equipment and mobile device company will forfeit about $30 billion in overall revenue opportunity in the next two years, the Journal reported. "We could not even participate in some (industry) organizations, but that will not stop Huawei from going forward", Ren said.

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A Huawei company logo is seen at the Shenzhen International Airport in Shenzhen in Shenzhen, Guangdong province, China.

Negroponte said the US President Donald Trump promised to reconsider the Huawei issue if the trade negotiation could agree on a deal.

Last month it also added Huawei to an "entity list" of companies barred from receiving US-made components without permission from Washington, though the company was granted a 90-day reprieve for now. The U.S. alleges that Meng misled American banks about the company's business dealings with Iran, and that Huawei used a Hong Kong shell company to sell equipment in Iran in violation of U.S. sanctions. He also said Huawei would continue to press on with research and development, and will not reduce its workforce substantially.

Huawei strongly denies any links to China's government and says the United States has never provided proof of its accusations. That same spokesperson said that the Honor 20 Pro "will be soon available in overseas market", so we'll keep an eye out for more information on that.

Although it has been barred from the US, Huawei apparently has a plan B to effectively keep working.

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