Huawei Sees a $10 Billion Hit to Mobile Unit From U.S. Curbs (1)

Huawei Technologies Co. expects U.S. export restrictions to reduce annual revenue at its consumer devices business by about $10 billion, as the company is banned from buying American components like semiconductors and software.

China’s largest technology company is seeking ways to replace key U.S. suppliers such as Cadence Design Systems Inc. and Synopsys Inc., Deputy Chairman Eric Xu said Aug. 23. The overall damage to the company will be a “little less” than billionaire founder Ren Zhengfei’s initial estimate, Xu added.

Huawei is seeking to develop alternatives after coming under intense pressure from the Trump Administration, which has argued its ...