Aug 24, 2022 05:22 AM

Huawei Founder Ren Declares a Battle for Survival

Ren Zhengfei
Ren Zhengfei

Huawei Technologies Co. must shift focus from expansion to profitability as a looming global recession threatens the company’s survival, founder Ren Zhengfei said Monday in a memo to employees.

Huawei should focus on profits and cash flow instead of revenue to ensure the company’s survival over the next three years, Ren wrote.

“With survival the main principle, marginal businesses will be shrunken and closed,” Ren wrote. “The chill will be felt by everyone.”

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