OREANDA-NEWS. Ren Zhengfei, president of the Chinese manufacturer of smartphones and mobile phone equipment Huawei, said that due to US sanctions, sales of the company in 2019 and 2020 won't grow and will remain at about $ 100 billion, reports Bloomberg. Potential revenue growth over these two years could be $ 30 billion. The company will try not to cut research and development costs, and also try to avoid cuts and asset sales, Ren added.

“We didn't expect the US to attack Huawei so decisively. We didn't expect them to hit our supply chain with such a scale, blocking not only the supply of components, but also our ability to participate in international organizations. Because of this, our revenues this year and next will be about $ 100 billion”, said the company's founder. He added that Huawei didn't expect the damage from the sanctions to be so substantial. Speaking about how the company was ready for such a development of events, he drew an analogy with the aircraft. “We only protected the engine and fuel tanks and couldn't protect the other parts”, he said.

The American magazine also reported, citing informed sources, that Huawei managers predict that in 2019 smartphone sales could fall by 40–60 million units. For comparison, in 2018 the company delivered 206 million units (an increase of 33.6%), almost half went to foreign markets. According to agency sources, the company may cut shipments of the flagship model Honor 20. Its sales in France, the UK and other European countries will start on June 21, but if the smartphone is sold poorly, Huawei may cancel new shipments.

The US authorities believe that China is engaged in espionage through equipment for 5G networks, which are supplied, including Huawei. In May 2018, the US Department of Trade introduced Huawei’s sanctions list and about 70 related organizations, imposing a ban on the purchase of technologies and equipment from American companies, such as Android, which Google is developing.