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Huawei crackdown

Huawei blames US for global chip supply crunch

Chinese tech titan says sanctions have spurred damaging 'panic-buying'

Huawei Rotating Chairman Eric Xu says U.S. sanctions on Chinese companies has spurred a rush to stockpile chips and other components. (Source photos by Reuters and AP)

TAIPEI -- Huawei Technologies on Monday blamed the U.S. for the chip crunch rocking the global tech industry, saying Washington's sanctions against Chinese companies have spurred panic buying of semiconductors and other supplies.

"Because of the U.S. sanctions against Huawei, we have seen panic stockpiling among global companies, especially the Chinese ones. In the past, companies were barely stockpiling, but now they are building up three or six months' worth of inventory ... and that has disrupted the whole system," Rotating Chairman Eric Xu said at the company's 18th Huawei Analyst Summit.

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