Huawei cuts India’s revenue target by up to 50%, laying off staff: Report

Chinese telecom company Huawei Technologies Co has cut its India revenue target for 2020 by up to 50 percent and is laying off more than half of its staff in the country, the Economic Times reported on Monday, amid calls to boycott Chinese goods in Asia’s third-largest economy.

Huawei is now targeting $350-$500 million in revenue for 2020, compared with roughly $700-800 million it was aiming earlier, the newspaper reported.

Huawei is cutting 60-70 percent of its Indian staff, excluding those in research and development and the global service centre, the newspaper said, citing people aware of the matter.

The report comes amid a rise in anti-China sentiment in India following the killing of 20 Indian soldiers by Chinese forces in a Himalayan border dispute last month.