SHENZHEN, China (Reuters) -- China's Huawei Technologies will see revenue from its smartphone business drop by at least $30-40 billion in 2021, with new growth streams unlikely to make up the shortfall in the next few years, chairman Eric Xu said.
While the firm has been "getting used to U.S. sanctions" imposed on it since 2019, its new 5G related business areas cannot offset the losses from the handset business, Xu, who is rotating chairman this year, said at a press conference in Beijing on Friday.
