Huawei expects its consumer business revenue to fall by at least $10 billion this year due to the US ban that blocks the Chinese technology powerhouse from purchasing critical American components, including semiconductors, said Eric Xu Huawei’s deputy chairman, reported the Financial Times.
The Chinese telecoms company called the latest reprieve “meaningless” and said the company and its employees were “fully prepared” to live and work for the foreseeable future under restrictions that prevent US companies from selling to Huawei without a licence.
“We believe it is very unlikely Huawei will be alleviated of this situation anytime soon,” said Xu, at an event where the company introduced its new artificial intelligence chipset Ascend 910.