Economics
Billionaire Huawei Founder Defiant in Face of Existential Threat
- Ren Zhengfei concedes the U.S. curbs will hit his company
- Huawei still intends to lead the way in networks and phones
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Huawei Technologies Co. founder Ren Zhengfei struck a defiant tone in the face of U.S. sanctions that threaten his company’s very survival.
In an interview with Bloomberg Television, the billionaire founder of China’s largest technology company conceded that Trump administration export curbs will cut into a two-year lead Huawei had painstakingly built over rivals like Ericsson AB and Nokia Oyj. But the company will either ramp up its own chip supply or find alternatives to keep its edge in smartphones and 5G.