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The united kingdom, IQE will see the sales hit of the US-China trade war

(Reuters) – the uk’s IQE Plc said on Tuesday its sales had been hit by the trade war between Beijing and Washington, while the reporting of a number of new contracts with major Asian customers that it would provide access to new supply chains and “significant” levels.

IQE, which makes wafers for chips used in Apple Inc’s products, among others, warned last month that it is in 2019 and the revenue would miss forecasts, blaming a bigger than expected hit on the industry in which the supply chain of the U.S. restrictions on chinese mobile phone Huawei.

The United States is limited, and Huawei, the purchase of AMERICAN goods, and in May, the plant and equipment to be used by Beijing for spying. Moving all the way up trade tensions between the world’s two largest economies.

IQE, said on Tuesday the global supply chain has been redeveloped over the entire world as well as a decrease in long-term trade war.

“This has had an impact on the sales volume for IQE’s products, and customers worldwide to adapt to the new supply chain situations, and the IQE is defined in the new supply chain,” the company said.

IQE, which has also been hit by the global slowdown in demand, saying that it had been awarded a contract from a major customer in Asia, the new Asia-centric supply chain for one type of transistor.

The company has won additional orders in the second Asian customer, with the specific focus on the increased demand from original equipment manufacturers, while the Singapore operation has won a new Asian customer for the transistors used in wireless devices and networks.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta

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