Samsung, LG Display to stop supplying panels to Huawei due to U.S. restrictions: Chosun By Reuters

Samsung, LG Display to stop supplying panels to Huawei due


© Reuters. FILE PHOTO: Huawei sign is seen outside its store at a shopping complex in Beijing

SEOUL (Reuters) – Samsung Electronics’ (KS:) display unit and LG Display (NYSE:) Co Ltd (KS:) are expected to stop supplying panels for premium smartphones to Huawei Technologies [HWT.UL] due to U.S. restrictions, South Korean online media Chosun Biz reported on Wednesday.

Samsung Display, which counts Samsung Electronics and Apple (O:) as major customers for OLED display screens, declined comment.

LG Display said in a statement the U.S. move will have a minimal impact on the company given its limited panel shipments to Huawei, adding it will continue to diversify its customer base.

The U.S. further tightened restrictions on Huawei in August, banning suppliers from selling chips made using U.S. technology to the Chinese telecom giant without a special license.

Samsung Display and LG Display decided to stop the supply to Huawei from when the restrictions take effect on Sept. 15, as the ban includes chips needed to operate displays, and orders from Huawei do not take up a large portion of their business compared to customers like Apple, Chosun Biz reported, citing industry sources.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME