The Chinese tech giant Huawei is facing a series of backlashes from its major markets.
The company was on the road to become the largest telecom manufacturer and the first to launch 5G in the world. But now the company is finding it difficult to accomplish its ambitions. As the United States accompanied by India has imposed a series of the ban on Huawei due to the growing inter-state tensions. Consequently, the tech company has decided to cut its Indian revenue target for 2020 by up to 50%.
In addition to that, Huawei is suspending more than half of its staff working in India. It happened after border skirmishes took place between the two neighboring countries, China and India. After which Indian authorities asked for the boycott of Chinese products in their country.
According to a source, Huawei is now expecting $350-$500 million in revenue for 2020, as compared to nearly $700-800 million it was aiming earlier. […]