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Wireless

Huawei axes India revenue target by 50%, lays off half of staff - report

Tuesday 28 July 2020 | 11:01 CET | News
China's Huawei has cut its India revenue target for 2020 by up to 50 percent and is laying off 60-70 percent of staff. The layoffs will not affect employees in the research and development and the Global Service Centre, The Economic Times reports, citing unnamed people with knowledge of the matter. According to the same source, Huawei India posted USD 1.2 billion in revenue in 2017. Huawei is now targeting USD 350-500 million in revenue for 2020, compared with USD 700-800 million earlier. Huawei has reviewed its outlook on the local market as it does not expect new orders from its only two

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Categories: Mobile & Wireless
Companies: Bharti Airtel / Ericsson / Huawei / Vodafone Idea
Countries: India
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