As it stands, the US government still has Huawei on its Entity List. This means that Huawei is not allowed to do business with US companies and vice versa, so much so that according to a report from The Information (paywall), Huawei is predicting that they might have quite a bad year in 2020.
The report claims that Huawei is apparently predicting that they might see a drop in smartphone sales by 20%, where they might end up selling around 190-200 million smartphones in 2020. This is versus 2019 where Huawei seemed to be doing quite well for themselves, where they managed to sell 240 million smartphones.
That being said, 190-200 million units sold is still a very huge number. As it stands, Huawei is currently the second larger smartphone maker in the world, second to Samsung after having edged out Apple who has since fallen to third place. We're not sure if this drop in sales could allow Apple to reclaim second place, but to lose 40-50 million smartphone sales is rather significant in terms of revenue.
Huawei is expected to announce their new flagship smartphones soon, the Huawei P40 and P40 Pro. Both devices will still not come with Google Play Services installed (although Google seems to be trying to get back in business with Huawei again), and it is unclear how those will affect overall sales of the P40 series.
Source: Engadget
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