Under pressure from the U.S.-China trade war, Huawei’s CEO Ren Zhengfei sees a revival of the company’s fortunes only in 2021.
As per a report from Bloomberg, Huawei Technologies Co Ltd is preparing for a 40% to 60% decline in sales from the international market.
According to Bloomberg’s report which cites sources familiar with the matter at hand, Huawei is weighing options which include pulling the Honor 20.
The Honor 20 is slated to start selling in parts of Europe, including France and Britain on June 21. Huawei will monitor the launch and could cut off shipments if sales are poor, said Bloomberg.
According to Bloomberg’s report which cites sources familiar with the matter at hand, sales and marketing managers internally expect a sharp fall in volumes ranging from 40 million to 60 million smartphones in 2019.
In order to offset this fall, Huawei aims to capture 50% of China’s smartphone market this year.
Huawei did not respond to requests for comments.
U.S. President Donald Trump has earlier said U.S. complaints against Huawei could be resolved within the framework of any potential U.S.-China trade deal.
Last week, Broadcom’s forecast that the U.S.-China trade war and the U.S. ban on Huawei would knock off $2 billion from its sales.