TOKYO -- Huawei Technologies on Monday slashed its sales expectations for the next two years by $30 billion, setting expectations at roughly $100 billion in 2020, as it announced plans to retrench in the face of Washington's campaign to restrict the Chinese tech giant amid a bitter trade battle with Beijing.
Huawei’s founder and CEO, Ren Zhengfei, admitted that constraints imposed on the company's U.S. suppliers by the Trump Administration had taken a heavy toll on the group. Sales were now expected to be fall slightly over the two years from 2018, he said.
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