Asian Tech Firms Face $25 Billion Revenue Loss
- November 5, 2020
- Posted by: Quatro Strategies
- Category: Internet Technology
S&P Global Ratings said in its statement that Asia Pacific tech companies could face a revenue loss around $25 billion due to US war against Huawei.
According to S&P, Chinese and Taiwanese chipmakers could lose around $7 billion, and other regional tech companies around $18 billion. These companies all have affiliations with Huawei and other companies Trump administration has blacklisted.
Trump administration blacklisted Huawei and other Chinese tech companies because of their supposed threat against US national security. US also have tried its NATO allies to join the war; but none have gone on board other than UK. Huawei executives and Chinese state officials insist that the company pose no such threat.
Despite the restrictions, Huawei has passed Samsung and Apple as the world’s largest smartphone shipper in the second quarter of 2020.
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