Huawei chief says growth may slow ‘slightly’ after U.S. imposed restrictions

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Huawei Technologies’ founder and Chief Executive Ren Zhengfei said Saturday the growth of the Chinese tech mammoth “may slow, but only slightly” because of ongoing U.S. trade restrictions.

In comments to the Japanese press and detailed by Nikkei Asian Review, Ren repeated that the Chinese telecom gear producer has not violated any law.

On Thursday, Washington put Huawei, one of China’s greatest and successful companies, on an trade blacklist that could make it incredibly hard 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 during an era of trade tensions between Washington and Beijing and in the midst of worries from the United States that Huawei’s cell phones and system gear could be utilized by China to spy on Americans claims the company has over and again denied.

A comparative U.S. restriction on ZTE Corp., another Chinese company, nearly crippled business for the smaller Huawei rival nearly a year ago before controls were lifted.

The U.S. Trade Department said Friday it might before long scale back limitations on Huawei.

Ren said the organization is prepared for such a stage and, that Huawei would be “fine” regardless of whether U.S. cell phone chipmaker Qualcomm Inc and other American providers would not have the option to sell chips to the company.

Huawei’s chip arm, HiSilicon, said Friday it has for some time been prepared for the situation that it could be restricted from buying U.S. chips and technology and that it can guarantee an unfaltering supply of most products.

The Huawei founder said that the organization won’t take guidelines from the U.S. government.

“We won’t change our administration in line with the U.S. or on the other hand accept monitoring, as ZTE has done,” he said.

In January, U.S. prosecutors unsealed an indictment accusing the Chinese company of engaging in bank fraud to obtain embargoed U.S. goods and services in Iran and to move money out of the country via the international banking system.

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