Huawei's revenue is expected to fall by $30 billion and its output cut may decline 30% in the next two years, Huawei CEO Ren Zhengfei said during a panel discussion on Monday. Ren added that the company is "determined" to build a trustworthy network amid espionage accusations from the United States.
The CEO promised that despite the expected lower sales, Huawei will not cut investments in research and development (R&D) to reshape network architecture, adding that the aim is to at least meet security standards of Europe's GDPR.
Ren commented that China still has a lot to learn from the West as the country does not have enough inventions. However, he praised the engeneering capabilities of Chinese professionals.