Intel expects revenue blow after US blocks chip sales to Huawei
Intel expects new export restrictions to China to impact its revenue for the next quarter, according to a new financial filing.
The US Department of Commerce said Tuesday it had revoked certain licenses for chip exports to sanctioned Chinese company Huawei. Intel said in its filing that the Commerce Department informed it Tuesday of the license change, which it said impacted the export of “consumer-related items to a customer in China, effective immediately.” Intel did not list Huawei by name in the filing.
Intel said its revenue for the second quarter of 2024 will still fall within the original range it outlined of $12.5 billion to $13.5 billion but below the midpoint.
Huawei has been on a US trade blacklist since 2019, limiting its...