Qorvo 15 % Lower Sales due to Huawei

Rechnet mit deutlichen Umsatzeinbußen durch den Ausfall des Geschäfts mit Huawei: Bob Bruggeworth, President und CEO von Oorvo.
Expects significant revenue losses due to the loss of business with Huawei: Bob Bruggeworth, President and CEO of Oorvo.

Qorvo has significantly lowered its sales forecast for the first quarter of 2020 due to the US ban on deliveries to Huawei.

This is from 780 to 800 to 730 to 750 million dollars. As the manufacturer of HF components further announced, it has suspended all deliveries to Huawei for the time being. For the second quarter of 2020, Qorvo assumes that no sales can be made with Huawei and that the overall level of the first quarter will be maintained.

According to Qorvo's own figures, in the 2018 financial year (end of March) Qorvo had achieved sales of 469 million dollars with Huawei alone, equivalent to 15 percent of total sales.

The company is in the process of reviewing the impact of the US Department of Commerce measures on its business with Huawei. Qorvo is also looking at the extent to which licenses that have been applied for are likely to be granted that will allow products to continue to be sold to Huawei.

On May 7 of this year, President and CEO Bob Bruggeworth, speaking at the announcement of the fourth quarter 2019 results, said that Qorvo would benefit from several long-term trends, including 5G, IoT and rising demand for GaN-based ICs. The day before, Qorvo had completed the acquisition of Active-Semi International, through which it intends to gain access to the power management market.

RF specialist Qorvo was formed in early 2014 when Triquint and RF Micro Devices merged to form the new company in a $1.6 billion merger.