Huawei’s Founder Hopes To Overcome Adversity Despite US Sanctions

Huawei’s Founder Hopes To Overcome Adversity Despite US Sanctions: Huawei founder Ren Zhengfai has said he is confident the company is capable of overcoming the current difficulties.

According to the report of Reuters news agency, the founder of Huawei has issued a statement for the first time after the swearing-in of the new US President Joe Biden.

Talking about the increase in revenue and profit last year, Ren Zhengfai said that it shows that consumer confidence in the company has increased.

Huawei’s founder was speaking at the inauguration of a 5G mining project in the Chinese city of Taiwan.

Huawei's Founder Hopes
Huawei’s Founder Hopes

Ren Zhengfai, 76, addressed the media for the first time since March 2020, when Huawei’s mobile business was in trouble as a result of US sanctions.

The last quarter of 2020 saw a 41% drop in Huawei’s mobile phone sales, and several years later it slipped from the world’s top three companies to sixth.

Ren Zhengfie said it was difficult for the United States to lift sanctions on Huawei, but that the new US administration was expected to adopt an open policy.

He hoped that Biden’s administration would formulate a policy in the interests of American companies.

“We expect the new administration to formulate an open policy for the benefit of American companies and for the economic growth of the United States,” he said.

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He said he would welcome President Joe Biden’s call.

Huawei is thought to have been blacklisted by former President Donald Trump in May 2019 and barred US companies from working with it.

In August 2020, the restrictions were further tightened, and Huawei was completely barred from selling US technology, even to foreign companies that use US technology.

The Huawei founder said he was confident of the company’s survival, even if the mobile business remained under pressure.

He said that the company is working on mining technology, smart airports, and other sectors that will compensate for the losses incurred in the smartphone business.

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He said the United States should think about the future of the chip industry, which has been barred from working with Huawei.

He assured that the company would not sell the smart devices business nor would there be any significant change in the company’s leadership.

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