Huawei's CEO isn't worried about $30B revenue hit from US ban
The company still expects to pull in $100 billion in revenue this year, Ren Zhengfei tells CNBC, adding that he would answer if President Donald Trump ever called.
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Chinese mobile phone maker
is set to lose $30 billion this year because of trade problems with the US and other countries around the world. But the company's CEO, Ren Zhengfei, isn't stressing out about it, he told CNBC in an interview on Wednesday.
Huawei's original forecast for this year was $130 billion, but at an event on Monday, Ren said the company had reassessed its expectations. The company, the second largest phone brand in the world, is still expecting to pull in $100 billion of revenue in 2019, he told CNBC, which was roughly the same as last year.
"I don't see that problem, because in the Chinese market, the consumer business has not seen a decline," he said. "We believe the $30 billion US will be a very small thing."
The US has ramped up its actions against the company this year, even banning the sale of Huawei phones. This is having a ripple effect around the world, as other countries mull potential security dilemmas posed by the company -- in particular its telecommunications infrastructure equipment -- with the rollout of
. Huawei has consistently denied that its phones and other products are a security risk and insisted it doesn't have strong, far-reaching links with China's ruling Communist Party.
Watch this: What is going on between Huawei and the US?
"Of course I would like to pick it up," CNBC translated Ren as saying. "We can communicate and achieve cooperation, to achieve win-win ... let's work together to build an informed society. We can all contribute, because US is still very leading and advanced, and Huawei will only be able to be leading in a very focused area."