Qualcomm, Intel and other USA chipmakers are said to be quietly lobbying the USA government to loosen its sales ban on Huawei, even as the Chinese firm has largely refrained from any lobbying efforts.
Over the next two years, the company is likely to miss out on around $30 billion of revenue from the US blacklist.
In the face of those curbs, Mr Ren said in the next two years, the firm would have to make a lot of adjustments in switching its systems.
Ren said he expects a similar figure of around United States dollars 100 billion in 2020, before a recovery in 2021.
The bitter trade war between China and USA has inadvertently caused a heavy toll on Huawei.
The U.S. has put Huawei on a blacklist, meaning that American companies that want to sell parts to Huawei will need approval from the U.S. Commerce Department. Huawei made US$11 billion worth of USA technology past year out of a total manufacturing budget of US$70 billion.
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Last month it also added Huawei to an "entity list" of companies barred from receiving US-made components without permission from Washington, though the company was granted a 90-day reprieve for now.
Huawei has denied the accusations, and company Deputy Chairman Ken Hu reportedly told employees that the Commerce Department's decision is "the latest move in the campaign against Huawei, waged by the USA government for political reasons". However, Ren Zhengfei claimed that the company would "regain vitality" in 2021.
US President Donald Trump's administration has essentially banned Huawei from the huge US market.
He also said there are "absolutely no backdoors" in Huawei's equipment and the company is willing to sign no-backdoor agreements with other countries.
Despite the drop in expected revenue, Ren said Huawei will not cut funding to research and development.
The SIA said it argued that devices such as smartphones and smart watches, which do not have an appreciable national security impact, should be exempt from the sales ban. The sale of a majority slice in Huawei Marine - announced in June - was a business decision that was unrelated to America's campaign against the company, the 74-year-old chief executive officer added.
Ren said during the panel discussion that Huawei will not use its many patents as a "weapon", but did not rule out seeking royalties for usage. "Over the last 30 years, Huawei has proved that our networks are secure and have not broken", said Ren.