Chinese telecom giant Huawei has revealed plans to spend tens of billions of dollars on technology supplies in Europe over the next five years after being blacklisted in the USA.
In an interview with AFP, Huawei explained that the decision was a direct result of Washington banning American companies from selling technology to the group.
According to Huawei, there will be consequences for American companies such as Qualcomm, Intel, Micron, and Google.
Huawei usually spends over $10 billion a year on semiconductors, spare parts, and services for its smartphones and network equipment.
The company will now be increasing its procurement in China, Japan, and Europe to make sure its production chains remain unbroken.
The hostile US ban has little impact on 5G-equipment supplies, while Huawei now “no longer has any American product.”
The company reported that it had supplied over 400,000 5G antennas worldwide to about 60 clients, more than half of them in Europe.
Huawei supplies equipment to operators providing this type of service, such as France’s Orange group and Telefonica in Spain.
RT. com / ABC Flash Point News 2019.