Huawei cancels supplier orders as US lingers

Huawei

A latest report by Nikkei said China’s Huawei Technologies Co LTD has now canceled or suspends orders for smartphone components.

Nikkei did not mention sources but Taiwan Semiconductor Manufacturing Co Ltd (TSMC) has confirmed that orders from the Chinese telecoms giant has dropped after the US added Huawei to its ‘Entity List’.

While Huawei has admitted that the sanctions would affect its business in the areas of mobile and smartphones, CEO Ren Zhengfei said he looks to see the company survive the American onslaught.

As a matter of fact, Nikkei claimed in it’s report that Huawei has downgraded it’s annual mobile growth to “about 20% to 30%” from the previous estimate.