On May 24, Patently Apple posted a report titled "The Story of the Week: Ostracizing Huawei." It was a recap of the actions against Huawei that week by the U.S. Government, Google and 67 other firms. The following week Facebook banned pre-installation of its apps on Huawei phones and Microsoft and ARM were stopping cooperation with Huawei.

With Huawei getting hit so hard and fast Fox Business News reports that "Huawei founder and CEO Ren Zhengfei estimates the tech company’s revenue will be $30 billion less than forecast over the next two years due to the U.S. government’s ban and ongoing trade dispute with China.

Ren said Monday during a panel discussion at company headquarters in Shenzhen that "We never thought that the U.S.'s determination to attack Huawei would be so strong, so firm. We cannot get components supply, cannot participate in many international organizations, cannot work closely with many universities, cannot use anything with U.S. components, and cannot even establish connection with networks that use such components."

Ren said Huawei’s sales revenue for the next two years will be about $100 billion — down from the previous target he made in February of $125 billion in 2019. The tech giant brought in a revenue of about $105 billion last year. The CEO added that the company will reduce its capacity in the next two years.

He said Huawei’s international cellphone sales will also drop by 40 percent.

The company's current situation "is not caused by American businesses, but rather by certain politicians' different perspectives," Ren said while comparing the tech giant's current state to a "badly damaged plane." "I think both sides will suffer. No one will win."

Despite the setbacks, Ren said the company will still move forward with research and development and will not conduct massive layoffs. The tech giant will continue to collaborate with other companies and countries. For more on this story read the full business report by Fox News here.

In the last three weeks Huawei has filed for two operating system names "Ark OS" and HongMeng which are rumored to being in the works for early next year.

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