(Reuters) – Intel said on Wednesday its sales would be hit after the United States revoked some of its export licenses to China, a move the company said was an overreach in the name of national security. complained the Chinese government.
Intel did not name the Chinese customers in its Securities and Exchange Commission filing, but Reuters reported Tuesday that the U.S. has sanctioned companies including Intel and Qualcomm for chips used in laptops and mobile phones. It was reported that the license that allowed the shipment to be revoked has been revoked. Huawei is a Chinese telecommunications equipment manufacturer.
The April launch of Huawei’s first AI-powered laptop, the MateBook It drew criticism from Republican lawmakers. To Huawei.
Shares fell 2.6% after Intel said it expected second-quarter revenue to be in the range of $12.5 billion to $13.5 billion, but below the midpoint.
Qualcomm also announced on Wednesday that one of its export licenses to Huawei had been revoked. Stock prices were flat.
China’s Ministry of Foreign Affairs, which has criticized all U.S. efforts to crack down on high-tech exports to China, opposed the move in a statement, saying the U.S. “overextends the concept of national security and prohibits China’s technology exports.” They are abusing export controls to suppress the A company without a valid reason. ”
In 2019, the United States added Huawei to its trade restriction list over concerns that the company could spy on Americans as part of a broader effort to cripple China’s ability to build up its military. . Being added to the list means the company’s suppliers must obtain special licenses, which are difficult to obtain, before shipping.
The new restrictions on Huawei are President Joe Biden’s latest effort to deny China access to America’s most sensitive and sophisticated “crown jewel” technology in an effort to thwart the Chinese government.
Biden has used export bans and diplomacy with like-minded democracies to halt China’s rapid technological advances in areas ranging from quantum computing to robotics, and to thwart Chinese leader Xi Jinping. He also described this strategy as the new normal in an era of bilateral competition. Two different political systems.
(Reporting by Aditya Soni in Bengaluru, Stephen Nellis in San Francisco and Trevor Hunnicutt in Washington; Editing by Arun Koyulu, Chizu Nomiyama and Nick Zieminski)
