China's Huawei Technologies Co. expects international smartphone shipments to drop by up to 60 million units, a large share of the 206 million units moved in 2018. Revenue forecasts will also be cut by $30 billion in the next two years. Huawei is at the center of the US-China trade war and the company has been placed on an “Entity List” which forbids American companies to sell components to Huawei without government consent. The US also claims that Huawei’s 5G technology poses a significant threat to global cybersecurity. In response, the company’s CEO said: “We never thought that the US’ determination to attack Huawei would be so strong, so firm.”
