Yeah, no.
Via Bloomberg:
Huawei Technologies Co. founder Ren Zhengfei struck a defiant tone in the face of U.S. sanctions that threaten his company’s very survival.
In an interview with Bloomberg Television, the billionaire founder of China’s largest technology company conceded that Trump administration export curbs will cut into a two-year lead Huawei had painstakingly built over rivals like Ericsson AB and Nokia Oyj. But the company will either ramp up its own chip supply or find alternatives to keep its edge in smartphones and 5G.
The U.S. on May 17 blacklisted Huawei — which it accuses of aiding Beijing in espionage — and cut it off from the U.S. software and components it needs to make its products. The ban hamstrings the world’s largest provider of networking gear and No. 2 smartphone vendor, just as it was preparing to vault to the forefront of global technology. It’s rocking chipmakers from America to Europe as the global supply chain comes under threat. The ban could also disrupt the rollout of 5G wireless globally, undermining a standard that’s touted as the foundation of everything from autonomous cars to robot surgery.