Huawei founder says revenue will be billions below forecast
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Huawei founder says revenue will be billions below forecast

SHENZHEN, China — Huawei’s founder has likened his company to a badly damaged plane and says revenues will be $30 billion less than forecast over the next two years.

Ren Zhengfei said Monday that the Chinese telecom giant will reduce capacity but that U.S. moves to restrict its business “will not stop us.”

The U.S. has put Huawei on a blacklist, meaning that American companies that want to sell parts to Huawei will need approval from the U.S. Commerce Department.

The Associated Press

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