Huawei in fight to survive because of US sanctions, says chairman

Huawei has said that “survival” is its top priority after it warned a hit to sales of its devices due to US sanctions.

The US government blocked American companies from working with the Chinese telecoms business over allegations that Huawei has close links to the Chinese government which could mean that its devices are used for espionage. Huawei executives have consistently denied the claims.

Eric Xu, Huawei’s chairman, said the company’s sales revenue for 2019 is likely to reach 850bn yuan (£92.8bn), up around 18pc on the previous year. The figure is lower than a previous forecast of £95bn.

The announcement comes after reports that British ministers will officially approve the use of Huawei…

Source link