Huawei CEO Ren Zhengfei says US curbs will slow growth ‘only slightly’
- Zhengfei criticises restrictions saying company has not violated the law
- Company will not accept monitoring as ZTE has
Huawei Technologies Co. Chief Executive Officer and founder Ren Zhengfei said he expects US restrictions won’t hurt the Chinese company’s growth much, Nikkei reported.
“Huawei’s growth may slow, but only slightly,” Ren told Japanese reporters at the telecommunications equipment maker’s headquarters in Shenzhen, China, according to Nikkei.
It was his first media statement since President Donald Trump and the US Commerce Department imposed restrictions on May 15. The closely held company’s revenue growth may fall short of 20 per cent, Ren said.
Trump signed an order that is expected to restrict Huawei and Chinese competitor ZTE Corp. from selling equipment in the US, and the Commerce Department put Huawei on a list that could block it from doing business with US companies.
Commerce Secretary Wilbur Ross said Huawei and its affiliates pose national security risks to the US, and that the restrictions are a separate issue from the US-China trade negotiations.
“We have not done anything that violates the law,” Ren said, criticising the US restrictions.