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?

So,

Huawei estimates that this year it could lose about $10 billion in revenue in its consumer devices division, which includes business related to the sale of smartphones.

Huawei Deputy Chairman Eric Xu spoke about this at the presentation of the new AI processor Ascend 910.

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

“It appears the damage will be a little less than expected. But you must wait for the results to be announced in March. There could still be a decline (of sales) of more than $10 billion,” Eric Xu said.

At the same time, Huawei continues to developalternatives to American technologies and components that will become unavailable to the Chinese company after the introduction of sanctions. And the next grace period, approved by the US government for another 90 days, was called “meaningless” by a Huawei representative, since the company’s employees are already fully prepared to work under restrictions.