According to Intel, the US has revoked part of the American chip manufacturer’s export licenses for deliveries to a customer in China. This will have a negative impact on the group’s revenue in the second quarter, Intel said in a statement to the Securities and Exchange Commission (SEC). The company did not name the Chinese customer.
However, the US government only withdrew some export licenses for supplies to Huawei on Tuesday – and while the Chinese telecom group no longer plays a role in the smartphone market in the West due to the lack of Google software, laptops remained the same thanks to US technology that is still available – Manufacturers Intel and AMD more relevant.
The Chinese phone and laptop maker last month launched its first artificial intelligence (AI) laptop, powered by an Intel processor. Huawei also sources components from the world’s largest supplier of smartphone chips, Qualcomm.
Intel continues to expect quarterly revenue of between $12.5 billion and $13.5 billion, but below average. The company’s shares fell by two percent after the warning.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
