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Huawei says the impact of the U.S. trade restrictions to be less than feared

A FILE PHOTO of A Huawei logo at the Shenzhen International Airport in Shenzhen, Guangdong province, China, and the 17th of June, 2019 at the latest. REUTERS/Aly Song/Files (Photo File Photo

HONG KONG (Reuters) – Chinese smartphone-maker Huawei Technologies said on Friday that his company has been less affected by U.S. trade restrictions, the company had initially expected, and it is to “be prepared” and to live and work in the U.S. penalties.

Huawei’s $100-billion company, has been hit hard since mid-May, Washington put the world’s second-largest smartphone maker, is in a so-called Entity List, which is threatening to cut off access to critical U.S. components and technology.

In the initial evaluation of the impact of the ban, Huawei founder and CEO Ren Zhengfei said in June that AMERICAN trade restrictions would have to hit revenues of $30 billion this year.

“It seems like it’s going to be a little less than that. But you’ll have to wait for our performance in March,” Eric Xu, Huawei’s deputy chairman, said at a press conference for the launch of the new artificial intelligence chip in the head office in Shenzhen.

Washington said this week that it will be extended by 90 days, a delay which Smartphone to buy from US companies for the supply of any of these customers, but also to move it to, adding more than 40 of the Smartphone’s all units of the economic time.

Reporting by Sijia Jiang; Editing by Muralikumar Anantharaman

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