Panasonic suspends some component shipments to Huawei amid U.S. blacklist
Reuters
Published May 22, 2019 07:36PM ET
Panasonic suspends some component shipments to Huawei amid U.S. blacklist
TOKYO (Reuters) - Japan's Panasonic Corp said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.
"Panasonic has instructed employees to halt transactions with Huawei and its 68 affiliates covered by the U.S. ban," the company said in a statement.
The Osaka-based company does not have a major production site for components in the United States, but it said the ban applies to goods having 25% or more of U.S.-originated technologies or materials.
The company, which makes a wide range of devices for smartphones, cars and factory automation equipment, declined to comment on which components are subject to the ban and where they are produced.
The U.S. Commerce Department blocked Huawei from buying U.S. goods last week, saying the firm was involved in activities contrary to national security.
The United States temporarily eased the restrictions on Huawei on Monday, to minimize disruption for customers.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.