Huawei founder Ren Zhengfei has said international sales of the Chinese telecoms giant’s handsets have sunk 40% in the past month as a US-led backlash against the firm intensifies.
Speaking at the firm’s headquarters, Mr Ren also said the company would slash production by $30bn (£23.9bn).
Last month, the US put Huawei on a list of companies that American firms cannot trade with unless they have a licence.
The move marked an escalation in efforts by Washington to block Huawei.
The US argues that the Chinese company – the world’s largest maker of telecoms equipment and the second biggest smartphone maker – poses a security risk.
“In the coming two years, the company will cut production by $30bn,” Mr Ren said at a panel discussion at the firm’s headquarters in Shenzhen.