Huawei smartphone sales drop amid US curbs

Last Updated: Jun 17 2019 19:51
Reading time: 0 mins, 36 secs

Huawei founder, Ren Zhengfei said that the international sales of Chinese telecoms giant's handsets have sunk 40% in the past month as a US-led backlash against the firm intensifies.

Speaking at the firm's headquarters, Mr Ren also said the company would slash production by $30bn (£23.9bn).

Last month, the US put Huawei on a list of companies that American firms cannot trade with unless they have a licence.

The move marked an escalation in efforts by Washington to block Huawei.

The US argues that the Chinese company, the world's largest maker of telecoms equipment and the second biggest smartphone maker, poses a security risk.

"In the coming two years, the company will cut production by $30bn," Ren said at a panel discussion at the firm's headquarters in Shenzhen.