What you need to know
- New U.S restrictions on Huawei prevent the company from buying chips from U.S. linked companies, whether done through intermediaries or not.
- Any company interested in trading with Huawei would need a special license.
- The U.S. argued that Huawei had tried to evade the prior version of the ban continuously.
The U.S government is imposing new trading restrictions on Huawei, preventing the company from buying chips from U.S. affiliated companies even done through a third-party intermediary.
On Monday, Reuters broke the news, reporting:
Earlier this year, Huawei had argued that it would be able to weather a storm from the U.S. with little impact. Speaking at Davos, founder Ren Zhengfei said:
With the company's HiSilicon now effectively defunct and a claimed revenue gap of billions in dollars from the loss of Google Play Services, it seems that the impact of the U.S. was a bit more significant than anticipated.
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