Silicon Labs Expects Revenue Hit From US Crackdown on Huawei, Eyes IoT
The May Commerce Department Bureau of Industry and Security notice banning shipments to Huawei will have “half a quarter impact” on Silicon Labs' Q2 revenue since the company’s late April guidance, said Chief Financial Officer John Hollister at a Tuesday…
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investor conference. Hollister called Huawei a “3 percent customer” generating $6 million quarterly revenue in its infrastructure business. He pegged IoT revenue potential, the most robust part of the “opportunity pipeline,” at $8 billion, mostly in wireless. CEO Tyson Tuttle said Silicon Labs is “furthest along” among competitors in small-scale wireless-enabled devices, a market that could reach 80 billion-100 billion devices deployed by 2025. “If you just come in and do one chip or one piece of the software, you’re really missing the big story of what the opportunity is,” he said, pushing the company’s breadth in software and devices.