Eric Xu, Chairman of Huawei, expects the Chinese technology giant’s revenue from the smart phone unit to decline by a level of between 30 billion and 40 billion dollars in 2021.
“While the company is getting used to the US sanctions imposed on it since 2019, its new areas of business related to 5G technology cannot compensate for the losses from the mobile business,” he said in statements yesterday, reported by “Reuters”.
In the first half of this year, the company announced the largest ever decline in its semi-annual revenue, as it generated 320.4 billion yen ($49.57 billion) in revenue.
The Chairman of the Board of Directors of the Chinese company stressed that his biggest hopes at the present time is that the company will remain on the scene during a period ranging from 5 to 10 years.
Eric Xu explained that China’s efforts to develop its semiconductor industry have shown very encouraging results, but addressing the supply chain challenges facing the company may take a long time.