Lumentum says halting all Huawei shipments, cuts quarterly forecast

Mobile phone parts producer Lumentum Holdings Inc. on Monday was the first U.S. company to confirm formally it was halting shipments to Huawei Technologies, following export restrictions put in place by the United States Department of Commerce.

Shares of U.S. suppliers were lower in premarket trading following a Reuters report that Alphabet Inc.’s Google suspended some business with Huawei.

Lumentum said Huawei represented 18 percent of its total revenue in its last reported quarter.

…

Article source: http://www.dailystar.com.lb//Business/International/2019/May-20/483599-lumentum-says-halting-all-huawei-shipments-cuts-quarterly-forecast.ashx