Impact of US trade restrictions will be less than feared – Huawei

HONG KONG/SHANGHAI (Reuters) – Chinese technology giant Huawei said on Friday the impact of US trade restrictions on its business will be less than what it initially feared, though the curbs could push its smartphone unit’s revenue lower by about $10 billion this year. In its first assessment of the impact of the restrictions, Huawei founder and CEO Ren Zhengfei said in June the blacklisting would hit the company’s revenue by $30 billion, leaving it without any topline growth for 2019. “We are open to discussing partnerships with AI chipset development companies so there are chipsets of various kinds that could be used in Huawei products. So, positioning our chipset business as a standalone is a scenario that is not going to happen,” Xu said. Huawei said it was no longer able to work with US chip designers such as Cadence Design Systems Inc and Synopsys due to the trade restrictions, but the company has alternatives.

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