In Beijing, Chinese officials harshly criticized the new US rules that essentially seek to cut off Huawei from foreign chip suppliers, and vowed to take “necessary” measures to protect Chinese interests. On the island of Taiwan, share prices of major chipmakers tanked as companies weigh up on potential impacts from the new rules. Still, Chinese experts said that Huawei might have to make drastic decisions, including cutting its burgeoning handset business. Global TimesIn Taiwan, major chipmaker MediaTek’s shares plunged by 10 percent on Tuesday following the US ban. The company reportedly signed an agreement with Huawei as early as this month to sell about 120 million chipsets, accounting for 60 percent of Huawei’s total demand.

Source: Manila Times August 20, 2020 12:22 UTC