Huawei founder says revenue will be billions below forecast

Huawei Ban US Chipmakers Said to Be Quietly Lobbying to Ease Restrictions

Huawei founder says revenue will be billions below forecast

China's tech giant Huawei will invest 100 billion USA dollars in the next five years to make network infrastructure more efficient and reliable, Huawei founder and CEO Ren Zhengfei said Monday.

Huawei has developed very good relationships with U.S. companies over the past 30 years, Ren said. That figure is also below the $105 billion in revenues that Huawei posted a year ago.

In May, President Donald Trump announced that many high profile Chinese companies would not be allowed to buy key technology and services from USA based firms without special agreements. The Trump administration delivered a huge blow on May 16, when it added Huawei to a blacklist that bars United States companies from selling it technology without first obtaining a USA government license.

Ren said at the even that U.S. moves to restrict its business "will not stop us".

The Trump administration slapped sanctions on Huawei at a time when U.S.

Negroponte, founder of the Massachusetts Institute of Technology Media Lab, said the us ban was a mistake. And previous year, the Federal Communications Commission announced plans to block US telecom and Internet carriers from using federal subsidies to buy foreign equipment deemed to pose a security threat. "We didn't expect the United States would hit our supply chain in such a wide way - not only blocking the component supplies but also our participation in global organizations", Huawei founder Ren Zhengfei told a panel on Monday.

He said the company had been surprised by Trump's administration policy and that the restrictions are bad news for both Chinese and American companies.

The exec also said Huawei is willing to sign a "no-backdoor agreement" with the world if necessary, adding that his company doesn't implant backdoors in products. The complaint, filed in Plano, Texas, where Huawei's American operations are headquartered, alleges that the law singles out Huawei for punishment while denying the company due process.

The Wall Street Journal reported last week that Huawei is asking Verizon to pay licensing fees for more than 200 of its patents.

He emphasized that Huawei will not stop collaborating with other countries and businesses. "No one will win". Administration officials say they fear Huawei could tap into and monitor sensitive US communications through its network technology. An extradition hearing is expected to begin in January.

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