US sanctions on Huawei hit chip supply and growth, executive says

AHuawei executive says that recent U.S. sanctions against the company have caused a shortage of computer chips for the company, hurting the growth of its smartphone business.
Richard Yu, president of Huawei Technologies’ consumer business, said at a company conference for developers on Thursday that the company has still managed to gain a 51% market share in the Chinese smartphone industry.
The U.S. has imposed various sanctions on Huawei, citing national security concerns. The latest, ordered in August, restrict foreign semiconductor companes from selling chips to Huawei that are produced using American technology.
“Even after this third blow, we still managed to achieve growth,” said Yu, who acknowledged that growth had been impacted over the last month.