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Huawei plans to cut production by Sh3 trillion over next two years

Huawei Founder
Huawei's founder CEO Ren Zhengfei says overseas smartphone sales have tumbled after US pressure on the Chinese firm [Photo, Courtesy]

Huawei's founder said Monday the Chinese telecom giant's overseas smartphone sales have tumbled since the US last month threatened to blacklist the company, and he warned the embattled firm would slash production to weather the US drive to isolate it.

The announcements by Huawei founder and CEO Ren Zhengfei marked the first clear indication from the company of the impact of the US pressure, which is being applied over concerns in Washington that Huawei is in bed with China's security apparatus.

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