Huawei Technologies blamed the U.S. for a chip shortage that shook the global industry, saying Washington’s sanctions against Chinese companies sparked panic purchases of semiconductors and other materials.
Due to the US sanctions against Huawei, we have witnessed a panic build-up of stocks among global companies, especially Chinese ones. In the past, companies had little to no stockpiling, but now they are stockpiling for three or six months. This caused the entire system to malfunction.
Chairman of the Board Eric Xu
The US has placed Huawei and other Chinese tech companies on trade blacklists that restrict their access to US technology, citing national security risks.
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.
Eric Xu Xu said the US trade restrictions against Huawei damaged the trust that existed in the global semiconductor supply chain. Now, he said, more and more countries are striving to manufacture microcircuits by increasing their technical self-sufficiency, rather than relying on cross-border supply chains. 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.
He admitted that currently no chipmaker in the world can help Huawei get its chips started due to US export control regulations. However, he said Huawei will continue to fund its chip research and development team “as long as it can afford it.”
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