Chinese technology giant Huawei said on Friday the impact of U.S. trade restrict...
HONG KONG/SHANGHAI - Chinese technology giant Huawei said on Friday the impact of U.S. 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.
“It seems it is going to be a little less than that. But you have to wait till our results in March,” Eric Xu, Huawei’s deputy chairman, said at a news conference to introduce new artificial intelligence chips at its headquarters in Shenzhen. Spurred by promotions and patriotic purchases, Huawei’s smartphone sales in China surged by a nearly a third compared to a year ago to a record high in the June quarter, helping it more than offset a shipments slump in the global market. Huawei said last month the consumer business group turned in revenue of 221 billion yuan in the first half of 2019.
Huawei, which has been developing its own chips to reduce its reliance on foreign technologies, reiterated on Friday that its chips, including a new AI chipset it launched on Friday called the Ascend 910, are for its own use and it does not aim to become a chip vendor.
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