China’s Huawei will see revenue from its smartphone business fall by at least $ 30 billion (around Rs -40 billion (around 2 21,140 crore) this year as the company continues to struggle. US restrictions on its supply chain, said rotating chairman Eric Xu.
While the company has “gotten used to the US sanctions” imposed on it since 2019, its new 5G-related business areas cannot make up for losses in the handset industry, Xu said at a conference. press in Beijing on Friday.
Former US President Donald Trump blacklisted Huawei for export in 2019 and barred it from accessing critical US-sourced technology, hampering its ability to design its own chips and components from outside vendors .
Xu said his “greatest hope” for the company is that it will still exist in five to ten years.
While China’s efforts to develop its semiconductor industry have shown “pretty encouraging results,” it will take a long time to address Huawei’s supply chain challenges, he said.
The company was looking for new areas of growth such as 5G and AI-based infrastructure upgrades at airports and mines. China will be a world leader in the application of 5G technology over the next few years, Xu said.
Huawei launched its Nova 9 and Nova 9 Pro smartphones on September 24. Both new mid-range phones come with four rear cameras and come with a Qualcomm Snapdragon 778G octa-core SoC.
The new Huawei Nova 9 and Nova 9 Pro also come with 120Hz OLED displays that offer up to 300Hz touch sampling rate. Huawei Nova 9 Pro is equipped with dual selfie cameras and fast charging of 100 W. Huawei Nova 9 meanwhile has a single selfie camera and a charge of 66 W. The Huawei Nova 9 Pro also has a larger screen than that available on the Nova 9.
© Thomson Reuters 2021