CEO: Huawei can weather choppy waters

The founder and CEO of Huawei Technologies Co Ltd said the difficulties the tech giant faces today will not have a big effect on its business in the long term, predicting revenue will double within five years.

The smartphone maker predicted more than 10 years ago the challenges it may face today, according to 74-year-old Ren Zhengfei.

"We are not completely unprepared to deal with the situation. The difficulties will affect us but not to a large extent. No grave problems will emerge," he said in an interview with the media in Shenzhen, Guangdong province, on Thursday.