Impact of US Trade Sanctions Less than Expected, Huawei Says

A Huawai executive said the effect of U.S. trade sanctions on its business will likely be less than what it initially feared. Huawei said in June the blacklisting would hit revenue by $30 billion, with no topline growth in 2019 (see 1906190018). “It seems it is going to be a little less than that. But you have to wait till our results in March,” Deputy Chairman Eric Xu said, Reuters reported. Huawei announced Friday what it bills as the world's “most powerful AI processor,” the Ascend 910, and an all-scenario artificial intelligence computing framework, MindSpore. “We have been making steady progress since we announced our AI strategy in October last year,” Xu said Friday. “Everything is moving forward according to plan.”