Ren Zhengfei: Huawei's revenue decline in 2019 may not reach $30 billion

On June 29, according to the Xinsheng Community, Huawei founder Ren Zhengfei said in an interview with Canada's "Globe and Mail" that Huawei's revenue decline this year may not reach US$30 billion.

Ren Zhengfei pointed out that all of Huawei's core cutting-edge chips are fine and can be fully supplied by itself, and maintain the leading position of its products. As for the small number of components that need to be replaced and replaced, he said that the production capacity will not be increased during the version switching period, which will have some impact on development.

Previously, Ren Zhengfei said that Huawei will reduce production in the next two years, and the estimated decline is 30 billion US dollars. Regarding the 30 billion US dollars, Ren Zhengfei said: "The outside world may think this is a big number, but in our eyes it is a small number. Because we originally predicted that we would achieve 135 billion US dollars in revenue this year, a decrease of 30 billion US dollars, and there is still about 100 billion US dollars. This is our forecast. In fact, the actual situation reflected in the financial statements is better than our forecast."

Ren Zhengfei further stated that it is possible that the revenue decline this year will not reach US$30 billion, but will be slightly less than this figure.

It is worth mentioning that during the meeting between the Chinese and US heads of state at the G20 summit today, the US side stated that it would no longer impose new tariffs on Chinese exports. The economic and trade teams of the two countries will discuss specific issues. US President Trump also stated that although the United States has not removed Huawei from the Commerce Department's export control blacklist, it allows US companies to sell products to Huawei. This is good news for Huawei, and Huawei's US suppliers can also breathe a sigh of relief.