STMicro CEO says a Huawei ban would not threaten $12 billion revenue target

Franco: Italian chipmaker STMicroelectronics would still reach its mid-term revenue target in the event of a ban of Huawei telecoms components in Europe, its chief executive said after the group published better-than-expected earnings on growing demand for its next-generation products.

Debates are raging in France, Germany and Britain as to whether to grant China’s Huawei, one of STMicro’s top 10 clients globally, the right to sell its telecoms equipment for use in 5G mobile Internet infrastructure, following calls by U.S. authorities for a complete ban over fears China could use the equipment for spying.