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Bloomberg NewsAugust 12, 2019, 12:20 AM CDT Chinese tech giant needs 3-5 years to reorganize, Ren writes Consumer business has sustained deep damage difficult to fixHuawei Technologies Co.’s billionaire founder intends to kick off a three- to five-year overhaul of the networking giant, creating an “iron army†that can help it survive an American onslaught while protecting its lead in next-generation wireless.Major structural shifts are around the corner as U.S. sanctions threaten the survival of its cash-cow smartphone business, Ren Zhengfei warned in an internal memo seen by Bloomberg News and verified by a Huawei spokeswoman. The consumer business faces a “painful long march,†Ren wrote, a possible reference to the Communist Party’s historic cross-country trek.China’s biggest technology company is grappling with an existential threat after Washington blocked Huawei from buying American technology, cutting off vital components from Qualcomm Inc. chipsets to Google’s Android operating software. Ren, 74, said an internal revamp was now needed to meet war-time needs, meaning organizations deemed unnecessary or redundant will be removed. He didn’t provide details about how such a restructuring might unfold....https://www.bloomberg.com/news/articles/2019-08-12/huawei-s-founder-wants-an-invincible-iron-army-to-fight-u-s?cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_medium=social&utm_content=business&utm_source=twitter