Growth 'may slow, but only slightly' after US restrictions: Huawei founder

Huawei Technologies’ founder and chief executive Ren Zhengfei said on Saturday the growth of the Chinese tech giant “may slow, but only slightly” due to recent US restrictions.

In remarks to the Japanese press and reported by Nikkei Asian Review, Ren reiterated that the Chinese telecom equipment maker has not violated any law.
 

“It is expected that Huawei’s growth may slow, but only slightly,” Ren told Japanese media in his first official comments after the US restrictions, adding that the company’s annual revenue growth may undershoot 20 per cent.

On Thursday, Washington put Huawei, one of China’s biggest and most successful companies, on a trade blacklist that could make it extremely difficult for Huawei to do business with U.S. companies, a decision slammed by China, which said it will take steps to protect its companies.

The developments surrounding Huawei come at a time of trade tensions between Washington and Beijing and amid concerns from the United States that Huawei’s smartphones and network equipment could be used by China to spy on Americans, allegations the company has repeatedly denied.