Clearly U.S. sanctions against the company are having their intended effect.
On Tuesday, Huawei Technologies Co Ltd stated its goal of becoming the world’s biggest smartphone maker by the end of 2019’s fourth quarter will take some more time to achieve.
“We would have become the largest in the fourth quarter (of this year) but now we feel that this process may take longer,” said Shao Yang, chief strategy officer of Huawei Consumer Business Group.
Yang did not elaborate on the reasons for such a delay.
During a speech at CES Asia, a technology show in Shanghai, Yang said, Huawei currently sells 500,000 to 600,000 smartphones a day.
Yang’s comments come in the wake of the United States placing Huawei on an Entity’s List last month which barrs it from doing business with U.S. companies on security grounds without government approval.
Many global tech giants have cut their ties with Huawei.
According to research and advisory firm Gartner, Huawei was the second biggest smartphone vendor in the first quarter of 2019, behind South Korea’s Samsung Electronics Co Ltd.
According to analysts estimate, U.S. sanctions on Huawei could push down its smartphone shipments by as much as a quarter this year; they could also cause its handsets to disappear from overseas markets.