At World Economic Forum in Davos, Huawei founder, and CEO Ren Zhengfei says that the US may apply more trade restrictions against the company but we’re prepared more than ever.
Back in May, Huawei was placed into the Entity-List, which prohibits the company from purchasing the technologies from the US firms.
“This year the U.S. might further escalate its campaign against Huawei, but I feel the impact on Huawei’s business would not be very significant,” Ren said at the World Economic Forum in Davos (reports CNBC).
“This year in 2020, since we already gained experience from last year and we got a stronger team, I think we are more confident that we can survive even further attacks,” he added.
In the meantime, the US is looking to add new restrictions on the company to minimize its access to purchase technologies required to build its devices.
By replying to this, Ren said Huawei has spent “hundreds of billions” to prepare a “plan B,” which has allowed the company to survive.
“If we had this sense of security from the U.S., we did not have the need to come up with these backup plans. Since we didn’t have that sense of security, we spent hundreds of billions to put our own plan B. That’s why we withstood the first round of attack,” Ren said.