Huawei lowers 2020 revenue target for the Indian market by 50%

Huawei has set its 2020 revenue target in India at between US$350 million and US$500 million, which is lower than the previous US$700 million to US$800 million, a reduction of up to 50%, according to Sina.

Huawei has set its 2020 revenue target in India at between US$350 million and US$500 million, which is lower than the previous US$700 million to US$800 million, a reduction of up to 50%, according to Sina.

At the same time, Huawei plans to lay off 60%-70% of its workforce, excluding staff in R&D and global service centers.

People familiar with the matter also said that Huawei’s move was mainly in response to the sharp decline in demand for equipment and services in the Indian market.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/28/huawei-lowers-2020-revenue-target-for-the-indian-market-by-50/.

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