Huawei's founder has admitted revenues will be $30 billion (£24 billion) less than forecast over the next two years.
Ren Zhengfei said at company headquarters in Shenzhen that the Chinese telecom giant will reduce capacity, but insisted that US moves to restrict its business "will not stop us".
The US government has put Huawei on a blacklist, meaning that American companies that want to sell parts to the Chinese firm will need approval from Washington's commerce department.
America has claimed Huawei is closelt linked with the Chinese government and will pose a security risk if involved in 5G networks. The UK has so far said it will only exclude the telecoms giant from 'core' parts of the network.
Ren said it had never occurred to Huawei that the American government would be so determined to take such a wide range of what he called extreme measures against the company.
"I think both sides will suffer," he said. "No one will win."
