Huawei Technologies yesterday blamed the US for the crisis that shook the global tech industry. According to the Chinese manufacturer of telecommunications equipment, the global shortage of microcircuits was caused by Washington’s sanctions against Chinese companies, which provoked “panic purchases” of semiconductor products and other components.
“Due to the US sanctions against Huawei, we have witnessed a panic buildup of reserves by global companies, especially Chinese ones. In the past, companies accumulated almost no inventory, but now they are accumulating reserves for three or six months … and this led to the disruption of the entire system, “said Eric Xu, Chairman of the Board of Huawei.
“It is clear that the unjustified US sanctions against Huawei and others [Chinese] companies create supply shortages throughout the industry, and this could even provoke a new global economic crisis, ”he added.
According to the chairman, the US trade restrictions on Huawei have not only undermined the company’s operations, but also destroyed the trust that existed in the global semiconductor supply chain. Now more and more countries are seeking to acquire their own chip production instead of relying on overseas supplies. This will require at least $ 1 trillion in upfront investment, which will drive up semiconductor prices by 35-65% and ultimately increase the cost of electronic devices to end users. The US Semiconductor Industry Association warned the administration of the President of the United States about this.
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