PALO ALTO, U.S. -- The U.S. export ban on Huawei Technologies is costing Qualcomm customers in China and will create "great headwinds" going forward as the industry shifts to 5G, the U.S. chipmaker said as it announced earnings for the quarter through June.
"The Huawei export ban, along with the pivot from 4G to 5G, which accelerated over the past couple of months, has contributed to industry conditions, particularly in China, that we expect will create great headwinds in our next two fiscal quarters," Qualcomm CEO Steven Mollenkopf said in Wednesday's earnings call.
