Huawei to shift focus amid concerns over world economy

'Survival main principle' for tech giant with profits, cash flow to be highlighted

The founder of Huawei Technologies Co highlighted the need to shift its focus from pursuing business scale to ensuring profits and cash flow, including giving up some overseas markets, to guarantee that the company can survive the challenges over the next three years.

The comments came as Ren Zhengfei, founder of Huawei, said the global economy is expected to enter a long period of recession, and the next decade is likely to be a very painful historical period.

Ren said in an internal article to its staff that with survival as the main principle, the company's marginal businesses will be shrunken and closed, and there is a need to let everyone at the company feel the chill, sources familiar with the matter told China Daily on Tuesday.