The consumer business at Huawei became the largest division in 2018, and took over its core business. Huawei released its first Huawei branded smartphone in 2010. It was a cheap handset, and in the early years, the company launched cheap devices.
Ren admitted that the company was wrong in his smartphone strategy, but says it's learned from them.
"We set prices based on our costs, which were relatively low. Our costs were low for two reasons. Firstly, as our technology evolved rapidly, we managed to reduce the cost of our products. , our operating costs were also kept low, "he said.
"As a result," he added, "we set prices at a relatively low level, making it difficult for Western companies to compete with us. We have reflected on this a lot."
"We have raised our prices and now many believe Huawei is expensive," he added.