It’s clear that the former US President’s sanctions against Chinese giant Huawei Technologies have hurt those companies that worked closely with him. Once upon a time, Huawei was Macronix’s largest customer in the direction of components for working in 5G communication networks. Now the Taiwanese supplier has successfully overcome the consequences of these sanctions by finding new customers in this field.
This as reported Reuters, said Miin Wu, Macronix founder, CEO and chairman of the board, at an event in Hsinchu, Taiwan. In August 2020, US authorities banned Huawei Technologies from supplying components for 5G networks without a special license, prompting Macronix to restructure its core business to work with other customers. As a result, Macronix gained many new customers in Europe and the USA. In fact, the imposition of sanctions against Huawei ultimately did not become a serious problem for the Macronix business, as the CEO explained.
The Macronix boss did not name the new customers. Recall that US sanctions were a crushing blow to Huawei Technologies. The business of manufacturing smartphones under the Honor brand was saved by transferring it to other owners, but Huawei’s own activity in this market segment was significantly curtailed. Huawei managed to remain the world’s largest smartphone maker for the first few months after the sanctions were imposed, but then the sanctions took their toll. Without access to the TSMC pipeline, Huawei was unable to continue manufacturing its own HiSilicon processors.