Huawei says US ban could wipe $30 billion off revenue

HONG KONG: China’s Huawei Technolo-gies Co Ltd has taken a harder-than-expected hit from a US ban, the company’s Founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year.

Ren’s downbeat assessment that the ban will hit revenue by $30 billion, the first time Huawei has quantified the impact of the US action, comes as a surprise after weeks of defiant comments from company executives who maintained Huawei was technologically self-sufficient.