Panasonic halts business with Huawei

(FASTNEWS|COLOMBO) – Japan’s Panasonic said it was halting business with Huawei to comply with US restrictions.

Panasonic said the ban applies to goods having 25% or more of US-originated materials, according to reports.

However, there was some confusion about Panasonic’s position when, later in the day, its Chinese website said the firm would continue to supply Huawei.

Last week the US put Huawei on a list of companies that American firms cannot trade with unless they have a licence.

The restrictions mark an escalation in US efforts to block Huawei, which it says poses a security risk.