Beijing, Jun 17.- Huawei Technologies founder Ren Zhengfei on Monday detailed the negative impact the Chinese company will suffer as a result of the growing restrictions imposed by the United States to halt its development and global expansion.
The executive said during a public debate that profits could fall to US$100 billion this year and the other by a foreseeable 40 percent fall in smart phone exports.
The firm reported US$105 billion in 2018 and predicted to increase revenues to US$125 billion in 2019.
Ren also mentioned that Huawei is currently unable to acquire components, participate in many international organizations, work with universities and establish contacts with those who use technology produced in the United States.
He denied accusations of intellectual property theft and espionage Washington launched and expressed willingness to sign agreements with other countries on strengthening security of the equipment and networks provided by the corporation.
Ren offered these statements while he exchanged with American experts George Gilder and Nicholas Negroponte about the situation created by the barriers raised by the White House.
The anti-Huawei crusade is at its peak and pushed US and foreign companies to turn their backs on the Chinese corporation, which appeals to alternatives that should help it shield itself from foreseeable losses at short term, replace imports and move forward with innovation.