Under the Trump administration, Huawei was put on an export blacklist and cut off from key semiconductors required for its smartphones.
"The biggest difficulty for us at present is on mobile phones. We know that [to produce] phones with small size and low power consumption requires advanced technology. Huawei can do the design, but no one is able to help us to produce. We are stuck," Huawei Chairman Guo Ping said in a Q&A with staff, according to a transcript seen by CNBC.
"Huawei will keep its existence in mobile phone sector," Guo said. "I expect that as the capability in chip manufacturing increases, [Huawei] will return to the smartphone throne." "I hope the day when China is able to make chips can come sooner. Until that day, the sector will exist, and we will try to retain and develop our technologies, to make sure we are able to make competitive phones," Guo added.
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