Technology: Huawei says impact of U.S. trade restrictions less than feared - PressFrom - US
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TechnologyHuawei says impact of U.S. trade restrictions less than feared

13:35  23 august  2019
13:35  23 august  2019 Source:   reuters.com

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A Huawei store in Beijing. The Chinese telecommunication giant’ s chief executive said the company had stockpiled computer chips for emergencies like the trade restrictions announced last week by the United States.CreditCreditLam Yik Fei for The New York Times.

+ Huawei founder and CEO Ren Zhengfei said that U . S . restrictions on access to technology would not defeat the Chinese telecom equipment maker and that the United States and Australia should hold off on buying Huawei ’ s 5G network gear if they fear it is a security risk. Story continues below.

HONG KONG (Reuters) - Chinese smartphone maker Huawei Technologies said on Friday its business has been less impacted by U.S. trade restrictions than the company had initially feared and it is "fully prepared" to live and work with U.S. sanctions.

Huawei says impact of U.S. trade restrictions less than feared© Reuters/CHINA STRINGER NETWORK People visit a newly opened Huawei store in Xian Huawei says impact of U.S. trade restrictions less than feared© Reuters/Aly Song FILE PHOTO: A Huawei company logo at the Shenzhen International Airport

Huawei's $100 billion business has been hit hard since mid-May after Washington put the world's second-largest smartphone maker in a so-called Entity List that threatens to cut off its access to essential U.S. components and technology.

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The U . S . government has temporarily eased trade restrictions imposed last week on China' s Huawei , a move aimed at minimizing disruption for its customers but dismissed by its * Huawei barred from buying U . S . parts on security grounds. * Founder says reprieve means little because firm prepared.

(Corrects title in 17th paragraph of this May 17 story to say "Chief Financial Officer" Meng Wanzhou, not "Chief Executive Officer".) By Karen Freifeld (Reuters) - The U . S . Commerce Department said on Friday it may soon scale back restrictions on Huawei Technologies after this week.

In its first assessment of the impact of the ban, Huawei founder and CEO Ren Zhengfei said in June U.S. trade restrictions would hit revenue by $30 billion this year.

"It seems it's 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.

Washington said this week that it will extend by 90 days a reprieve that permits Huawei to buy from U.S. firms in order to supply existing customers, but it also moved to add more than 40 of Huawei's units to its economic blacklist.

(Reporting by Sijia Jiang; Editing by Muralikumar Anantharaman)

Huawei Says U.S. Needs to Talk to Company for China Trade Deal.
The U.S. government will need to hold talks with Huawei Technologies Co. for there to be a trade deal with China, a top executive at China’s largest technology company said. “Can I imagine a trade deal where the U.S. government doesn’t agree to talk to us? No I can’t,” Huawei Chief Security Officer Andy Purdy said at a briefing in Budapest on Tuesday. Huawei has become a focal point for U.S.-Chinese tensions and is regarded by some as a bargaining chip in the negotiations. Washington’s decision to stop the company buying American technology has cut it off from vital supplies, from Qualcomm Inc.

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