China Is No Longer Huawei's Panacea Amid Coronavirus, U.S. Blacklist [Forbes]
Apple Inc. (AAPL)
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Source: Forbes
A woman wearing a face mask walks past a Huawei shop on a street in Beijing on April 22, 2020.NICOLAS ASFOURI/AFP via Getty ImagesHuawei’s smartphone sales in China had been a bulwark against the effects of its U.S. export blacklisting, but no longer. Even the company’s domestic phone business is running into increasing challenges due to the coronavirus outbreak, which has hit consumption hard.The telecom equipment and smartphone giant said that it had largely resumed smartphone production by the end of March, after local infections of COVID-19 had reportedly slowed. The problem now is on the demand side. With theChinese economy contracting sharply“Consumption is being continuously affected,” says CK Lu, a senior director analyst at research and advisory firm Gartner. “In this environment, it would be considered a really good result if they can maintain the same level of shipments as last year.”Today In:AsiaHuawei had previously said it sells an average of 450,000 phones in China on a
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