Huawei has confirmed that it is anticipating a giant drop in smartphone sales this year after it was blacklisted by US President Donald Trump’s administration.
Speaking at a livestreamed event at Huawei’s headquarters in Shenzhen on Monday, the company’s founder Ren Zhengfei confirmed a report by Bloomberg that sales of its phones outside of China could plummet 40%.
Citing sales and marketing sources, Bloomberg pegged the drop at between 40% and 60%, which it said would equate to a decline in shipments of between 40 million and 60 million smartphones. Huawei said it shipped 206 million phones last year.
