Huawei’s founder Ren Zhengfei said the vendor needs to embark on a three-to-five year transformation process in order to be well prepared to face the ban implemented by the U.S. government, Bloomberg reported.
In an internal memo seen by the news agency, Ren said that major structural changes needed to be implemented as U.S. sanctions geared on access to U.S.-made components threaten its smartphone business. The consumer business faces a “painful long march,” Ren wrote in the internal memo.
The executive did not provide details of the future changes in the company’s structure.
