Huawei underestimated impact of U.S. ban, expects a $100 billion dip in revenue

Aileen Cerrudo   •   June 18, 2019   •   1016

Courtesy : Reuters

Huawei Technologies’ founder and CEO Ren Zhengfei said they underestimated the impact of the United States (US) ban.

On Monday (June 17), Zhengfei warned that their revenue would dip to around $100 billion this year.

READ: Internet abuzz over Google suspending business with Huawei

The US has put Huawei on their trade blacklist and banned American companies from doing business with the Chinese firm due to security risk.

Google previously announced that Huawei’s newer smartphones will lose Android updates as well as apps including YouTube, Gmail, and Google Play.

Zhengfei alredy expressed concerns on the impact of the trade ban.

“We did not, in our initial assessment, expect it to be this serious. We had made our preparations, just like an old airplane, we had only protected our heart and our fuel tank, we did not protect the other necessary components. So in the next two years, the company will suffer a setback. Our output will drop by $30 billion and so our revenue would dip to around $100 billion this year and the next,” he said.

“Whether (Huawei’s) international smartphone shipments will drop 40%? Yes it will, drop by 40%. But the growth rate for Chinese smartphone sales is very fast, its very fast,” he added.—AAC

Walmart to stop selling ammunition for handguns, assault-style weapons

Jeck Deocampo   •   September 4, 2019

 Walmart Inc said on Tuesday (September 3) it would discontinue sales of ammunition for handguns and some assault-style rifles in stores across the United States, in response to the recent mass shootings in Texas and Ohio.

The largest U.S. arms retailer, which has been under pressure to change its policies on gun sales, also said it would discontinue handgun sales in Alaska, the only state where it still sells these guns.

Walmart has already ended sales of assault rifles and raised the minimum age for gun purchases to 21. The latest move will leave it focused on weapons for hunting, including deer rifles, shotguns, and related ammunition.

The company will stop selling all handgun ammunition and some short-barrel rifle ammunition, such as the .223 caliber and 5.56 caliber after clearing current stock.

While short-barrel ammunition is commonly used in some hunting rifles for small animals such as prairie dogs, they can also be used in military-style weapons with high-capacity magazines.

The retailer said it took the action following the death of 22 people in a mass shooting in a Walmart store in Texas as well as deadly shootings in Ohio and Saturday’s incident in Midland and Odessa, Texas.

Just last month, the company said it would not change its policy on selling firearms even as it took down signs and playable demos of violent video games.

“As a company, we experienced two horrific events in one week, and we will never be the same,” Chief Executive Officer Doug McMillon said in a letter to Walmart’s associates. (REUTERS)

China says US behaviour “disgraceful and immoral” over accusations on Huawei

Jeck Deocampo   •   September 4, 2019

Chinese Foreign Ministry Spokesperson Geng Shuang

Beijing on Wednesday (September 4) accused the United States of using its power to suppress a specific Chinese company without providing any evidence after China’s Huawei Technologies said the U.S. government had instructed law enforcement to “coerce” and “entice” its employees to turn against the company, as it steps up its pushback against a U.S. campaign that could threaten its survival.

Huawei on Tuesday (September 3) said the U.S. government was using its judicial and administrative powers as well as other means to disrupt its business and that of its partners.

“This kind of behavior is not only disgraceful, it is also immoral,” Chinese foreign ministry Geng Shuang said at a daily news conference, adding that the United States should stop its “irrational” pressure on Chinese companies and instead create a non-discriminatory environment for their operations.

Amid a trade war with China, Washington put the world’s No. 2 smartphone maker on an Entity List in May, in effect cutting off its access to essential U.S. components and technology, in particular, Google’s apps and services for Android devices. (REUTERS)

US tests first land-based cruise missile after quitting INF treaty

Robie de Guzman   •   August 21, 2019

The U.S. Defense Department on Monday announced the test of a medium-range land-based cruise missile for the first time after pulling out of the Intermediate-Range Nuclear Forces (INF) Treaty.

It was reported that the “conventionally configured” test missile hit the target after flying more than 500 kilometers on Sunday local time in San Nicolas Island, California.

That was the first time the United States carried out a missile test previously prohibited by the INF, marking the resumption of an arms race.

According to the statement, the data collected from this test will be applied for development of future intermediate-range capabilities.

The INF Treaty, signed in 1987 between the former Soviet Union and the United States, had banned land-based missiles with a range of 500 km (310 miles) to 5,500 km (3,410 miles).

The treaty ceased to operate on Aug 2 after the United States and Russia accused each other of violating it.

On the same day, the U.S. Defense Department announced the full development of the ground-based conventional cruise missile previously banned by the arms control treaty. (Reuters)

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