Huawei cuts India revenue target by up to 50per cent, laying off staff – ET

Chinese telecom company Huawei Technologies Co has cut its India revenue target for 2020 by up to 50per cent and is laying off more than half of its staff in the country, the Economic Times reported on Monday, amid calls to boycott Chinese goods in Asia’s third-largest economy.

FILE PHOTO: A view shows a Huawei logo at Huawei Technologies France headquarters in Boulogne-Billancourt near Paris, France, July 15, 2020.

REUTERS: Chinese telecom company Huawei Technologies Co has cut its India revenue target for 2020 by up to 50per cent and is laying off more than half of its staff in the country, the Economic Times reported on Monday, amid calls to boycott Chinese goods in Asia’s third-largest economy.

Huawei is now targeting US$350-US$500 million in revenue for 2020, compared with roughly US$700-800 million it was aiming earlier, the newspaper reported.

Huawei is cutting 60-70per cent of its Indian staff, excluding those in research and development and the global service centre, the newspaper said, citing people aware of the matter.

The report comes amid a rise in anti-China sentiment in India following the killing of 20 Indian soldiers by Chinese forces in a Himalayan border dispute last month.

India has also told two state-run telecoms firms to use locally-made rather than Chinese telecom equipment to upgrade their mobile networks to 4G. (https://reut.rs/2ByrjhH)

Huawei did not immediately respond to a request for comment on the report.

Z24 News

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