Huawei shifts focus from chasing scale to securing profits in recession: founder

Ren Zhengfei, the founder of Chinese telecoms giant Huawei Technologies, has shifted his focus from pursuing scale to securing profits and cash flow as the global economy enters a prolonged recession. He expressed the idea that he had to switch. An email sent to employees on the 22nd was reported by the first financial media in China on the 23rd.

Mr. Im has warned that the global economy will continue to decline over the next decade, according to Cheikei. In particular, he pointed out that there will be concerns everywhere in the world over the next three to four years due to war, the continued economic sanctions imposed by the United States on other countries, and the corona crisis. did.

Huawei has warned that non-core businesses will be reduced or eliminated, and that “redundancies” will move to standby teams. He said the company would “totally give up” on some countries and territories and cut back on reckless investments and expansions next year.

“We must make it clear that building an information and communications technology (ICT) infrastructure is our company’s historic responsibility,” he said. He cited cloud computing, digital energy, and smart cars as areas the company should develop.

Alexander focuses on breaking news stories and ensuring we offer timely reporting on some of the latest stories released through market wires. He has previously spent over 5 years as a trader in us stock market and is now semi-retired. Now he works for investingbizz.com specializing in quicker moving active shares with a short term view on investment opportunities and trends. He covers financial sector news.

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