Huawei's damage from US sanctions will not be as expected

Huawei has revised the amount of damage caused to it by US sanctions.

How many?


according to Huawei estimates, this year it may lose about $ 10 billion in revenue in the consumer device division, which includes the business related to the sale of smartphones.

This was announced at the presentation of the new Ascend 910 AI processor by Huawei vice chairman Eric Xu.

According to him, this is less than expected before. Back in June, Huawei founder and CEO Ren Zhengfei said that due to America’s blacklist, company sales could drop $ 30 billion in the next two years.

“It seems that the damage will be a little less than expected. But you have to wait until the results are announced in March. Still, there may be a decrease in (sales) of more than $ 10 billion, ”said Eric Xu.

At the same time, Huawei continues to developalternatives to US technologies and components that, after the imposition of sanctions, will become inaccessible to the Chinese company. And the next grace period, approved by the US government for another 90 days, the representative of Huawei called "meaningless", as the company's employees are already fully prepared to work in the face of restrictions.