China’s Huawei slashes India revenue target for 2020 by 50% amid calls to boycott Chinese goods

Amid calls to boycott Chinese goods, Huawei Technologies Co, a global leader in providing equipment for 5G mobile technology, has decided to cut its India revenue target for 2020 by up to 50%. The Chinese tech giant is laying off more than half of its staff in the South Asian nation.

For 2020, the Chinese telecom company is now targeting $350-$500 million in revenue. Huawei is cutting 60-70% of its Indian staff, except those in R&D (research and development) and the global service centre, the business daily said. The report comes amid an increase in anti-China sentiments in the country following the martyrdom of 20 Indian soldiers by Chinese forces in a Himalayan border face-off last month.

It is pertinent to mention here that India has also told two state-run telecoms firms (BSNL and MTNL) to use locally-made rather than Chinese telecom equipment to upgrade their mobile networks to 4G. The move is part of the Indian government’s push to reduce the dependence of the Indian telecom sector on foreign equipment and boost domestic manufacturing.