US President Donald Trump put Huawei’s name on a trade blacklist last week to exert pressure on the Chinese side.
China’s Huawei hits back after US blacklistingChina’s Huawei slams the US president for signing an executive order banning the firm from buying and selling technology in the US.
Huawei founder and CEO Ren Zhengfei told a group of Japanese journalists on Saturday that they had been expecting Trump’s move.
“We have already been preparing for this,” Ren said as quoted by Japanese newspaper The Nikkei.
“It is expected that Huawei’s growth may slow, but only slightly,” he noted.
Ren added that Huawei would continue to develop its own components in order to reduce its dependency on foreign suppliers.
“We have not done anything which violates the law,” Ren added, stressing that the US blacklisting would have a limited impact.
Ren insisted that Hyawei would not give in to US pressure like fellow Chinese telecoms giant ZTE, which was also targeted by Washington, did.
“We will not change our management at the request of the US or accept monitoring, as ZTE has done,” he said, as quoted by The Nikkei newspaper.
ZTE came close to collapse last year after US firms were banned from selling it vital components over its continued dealings with Iran and North Korea.
Trump later reversed the decision and in return ZTE had to pay a $1 billion fine and accept monitoring by the US Commerce Department.
Huawei’s profit & growth
Ren, 74, founded Huawei in 1987 with only $5,000, according to company lore.
Huawei now claims to have nearly 190,000 employees, operates in 170 countries, and in 2018 it reported a revenue of more than $100 billion.
Washington has been trying to persuade allies not to allow China a role in building next-generation 5G mobile networks.
US government agencies have already been banned from buying equipment from Huawei.
Despite all these efforts, Huawei continues to rapidly grow as the leader in 5G technology in the world.