HONG KONG/BEIJING - The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world's top supplier of telecoms network equipment.
Out of $70 billion Huawei spent for component procurement in 2018, some $11 billion went to U.S. firms including Qualcomm, Intel Corp and Micron Technology Inc, and they could see that revenue disappear. "Huawei being unable to manufacture network servers, for example, because they can't get key U.S. components would mean they also stop buying parts from other countries altogether," said an executive at a Huawei chip supplier.
Its initial target was to build inventories of six to nine months, and it has recently been raised to 12 and, in some cases, 24 months, Jefferies said.South Korea's Samsung dropped 2.4%, SK Hynix fell 3.5%, while China's Luxshare Precision Industry fell as much as 6.1%. Shares in ZTE also tumbled. The ZTE case led to some"benefits" and"external pressures have developed into internal drivers" in China, said Wan Gang, vice chairman of China's parliamentary advisory body.The pain for Huawei's supply chain would be redoubled if the trade war put a damper on the Chinese technology industry.
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