China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year.
Ren’s downbeat assessment that the ban will hit revenue by $30 billion, the first time Huawei has quantified the impact of the U.S. action, comes as a surprise after weeks of defiant comments from company executives who maintained Huawei was technologically self-sufficient. READ MORE
Similar Posts:
- How Huawei Grew and Its Prospects in the US (WSJ)
- Huawei Turns to Mobile Chip Rivals to Beat US Pressure (Nikkei Asian Review)
- Was Huawei Warned in Advance About the Vietnam Protests? (WCT)
- The World Cup Will Likely Hit Macau Gaming Revenue Growth (Macau Business Daily)
- China Internet Update (KraneShares)
- Housebound Consumers Lift Lenovo to Record Revenues & Profits (HKEXnews)
- Banning Huawei: An Act of Economic War (Hermes)
- Wal-mart Goes Native in China (AP)
- World Bank Cuts China Growth Forecast as COVID-19, Real-estate Crunch Take Toll (WSJ via Fox Business)
- After Jack: Alibaba Searches for New Growth in the Post-Ma Era (Nikkei Asian Review)
- Macau Casino Boom-Bust Cycle in One Chart (Bloomberg)
- Lessons from Autohome Inc’s Battle With Foreign Shareholders (Bloomberg)
- Inside Huawei’s Secret Plan to Beat American Trade War Sanctions (Nikkei Asian Review)
- Microsoft’s Emerging Market Problems: Piracy & Naked PCs (Reuters)
- Legend Biotech (NASDAQ: LEGN): The J&J Partner Recently Surged on Leaked Data About It’s Multiple Myeloma Treatment
