Huawei supply ban roils stocks as U.S. companies begin to cut off China tech giant

An Android logo on a Huawei phone. By Jeanne Whalen , Jeanne Whalen Reporter covering business around the world Email Bio Follow Greg Bensinger , Greg Bensinger Reporter covering algorithms and artificial intelligence Email Bio Follow Ellen Nakashima and Ellen Nakashima National security reporter Email Bio Follow Hamza Shaban Hamza Shaban Technology reporter Email Bio Follow May 20 at 10:15 PM U.S.

The United States said last week it was adding Huawei to a trade blacklist because the company “is engaged in activities that are contrary to U.S. national security or foreign policy interest.” That punishment means U.S. firms aren’t allowed to sell to Huawei unless they get special approval from the government.

“The current practice of U.S. politicians underestimates our strength,” Ren said in a group interview with Chinese media Tuesday morning. Huawei had a stockpile of chips and “can’t be isolated” from the world, he said. “As one of Android’s key global partners, we have worked closely with their open-source platform to develop an ecosystem that has benefitted both users and the industry,” said spokesman Joe Kelly, adding that Huawei would continue to provide security updates and after-sales services to its existingsmartphone and tablet products.

Other analysts took a dimmer view of Huawei’s prospects. “They are still heavily, heavily dependent on U.S.-based companies for multiple different technologies,” said Geoff Blaber, vice president of research at CCS Insight. “While we are complying with all U.S. government requirements, services like Google Play [and others] will keep functioning on your existing Huawei device,” Google said in a statement on its Twitter account.But Google is suspending licensing agreements with Huawei for access to its Play app store, meaning future Huawei customers won’t have popular Google apps such as Gmail, the Chrome browser and even YouTube.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Blacklist mess: Huawei's $105 billion business at stake after U.S. broadsideThe latest U.S. broadside against Huawei that puts the Chinese firm on an export... Don’t worry, Huawei spend many years to prepare for this day. Come on, you know the “ban” won’t be taken in effect because he using it to “make a deal”. He’s losing the trade war and needs some leverage in win. U.S. should take reciprocal approach. China has already forbidden Google/Facebook/YouTube/Twitter. Next let kick Alibaba out of this country.
Source: Reuters - 🏆 2. / 97 Read more »