Founder of China’s Huawei urges focus on cash flow, survival in downturn

SHENZHEN: The founder of China’s Huawei Technologies has told employees the company must shift its focus from pursuing scale to ensuring profits and cash flow as the global economy enters a long period of recession, media reported on Tuesday.

“With survival the main principle, marginal businesses will be shrunken and closed, and the chill will be felt by everyone,” founder Ren Zhengfei wrote in an email to staff on Monday, the financial news outlet Yicai reported.

Huawei said the email was for employees and declined to comment further.