The more serious action is the one that prevents Huawei from importing components supplied by American companies without government approval. The order extends to 68 affiliates as well, including some in other countries like Canada, Japan, Brazil, the UK, Singapore and others. But the broader fallout could also affect American companies. According to the South China Morning Post, Greater China is Apple’s third largest market, contributing about 20% of revenue in 2018, while China, including Hong Kong, accounted for 67% of Qualcomm's sales last year and 17% of Broadcom's revenues. Intel depends on China to such an extent that it reduced its full-year revenue forecast last month and missed analysts’ estimates for the first quarter as its China business was hit by a slowdown. US President Donald Trump also put in place a ban on the use of equipment from Huawei and its fellow Chinese firm, ZTE, within the US but that would not have much effect on either firm as the US uses very little equipment from either company. Huawei gear comprises less than 1% of wireless equipment in US networks. Ericsson and Nokia each account for 48%, while Samsung Electronics has 3% of the US$30 billion-a-year American market for mobile equipment, according to analyst Stefan Pongratz of Dell’Oro Group.
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