Huawei turns to areas less reliant on U.S. tech
Chinese telecoms equipment maker Huawei Technologies is making business resilience its top priority.
It wants to develop its software capabilities as it seeks to overcome U.S. restrictions that have devastated its smartphone business.
On Monday (April 12) Huawei's rotating chairman, Eric Xu, said the company has "no expectation" of being removed from the U.S. Entity List.
It's been used to limit the flow of U.S. technology and products to Huawei and others.
Speaking to analysts, Xu said the company would instead invest more in components for self-driving vehicles.
With investment in its intelligent-driving business exceeding $1 billion this year.
He also said Huawei's global rollout of 5G telecoms networks has "exceeded expectations."
Huawei was put on an export blacklist by Donald Trump in 2019 and barred from accessing critical technology of U.S. origin.
That hit its ability to design its own chips and source components from outside vendors.
Huawei says it wants to focus on forming a clear strategy after the sanctions impact.
Some Chinese companies stockpiled three to six months of semiconductors, a move that is partly being blamed for the current global chip shortage.
