Huawei founder says firm to cut output amid U.S. curbs
Huawei founder says firm to cut output amid U.S. curbs
Huawei's share of China's smartphone market
17 June, 2019, 16:17
President Donald Trump's administration has essentially banned Huawei from the huge U.S. market and barred American tech companies from supplying the Chinese company with vital components without permission from Washington.
The ban has forced companies, including Alphabet Inc's Google and British chip designer ARM to limit or cease their relationships with the Chinese company.
"In the coming two years, the company will cut production by $30bn", Mr Ren said at a panel discussion at the firm's headquarters in Shenzhen.
The company had reported revenue of 721.2 billion yuan ($104.16 billion) past year, up 19.5 percent from 2017.
Qualcomm, for example, wants to be able to continue shipping chips to Huawei for common devices like phones and smart watches, a person familiar with the company's situation said.
We didn't expect the USA would hit our supply chain in such a wide way - not only blocking the component supplies, but also our participation in worldwide organizations", Ren said (h/t: "Bloomberg).
Two U.S. tech experts, George Gilder and Nicholas Negroponte, also joined the session.
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"We can not get components supply, can not participate in many global organizations, can not work closely with many universities, can not use anything with USA components, and can not even establish connection with networks that use such components".
"We did not expect [that the United States] would attack us on so many aspects", he added. -China trade talks hit rough waters, prompting assertions from China's leaders about the country's progress in achieving self-sufficiency in the key semiconductor business.
The firms argue that the vast majority of parts used by Chinese firms are commonly available and as such a far smaller security risk that Huawei's bespoke 5G infrastructure equipment. It ran a full-page ad in major USA newspapers in February following a string of interviews with Huawei Chief Executive Ren Zhengfei aimed at softening its dark image in the West. "So clearly that is not about national security", he said.
In an analysis last week, global consultancy Eurasia Group said Huawei 'has little hope of staying on the global cutting edge in either smartphones or networking technology as long as it remains on the US Entity List'.
A 40 to 60 percent decline in worldwide smartphone shipments is what Huawei is expecting, according to a Reutersreport citing Bloomberg. Ren said the firm's global smartphone shipments plunged 40%.
At the time, Huawei founder and chief executive Ren Zhengfei said the restrictions "may slow, but only slightly" the company's growth.
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