Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  SK Hynix Inc    000660   KR7000660001

SK HYNIX INC

(000660)
  Report  
SummaryNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

China calls in foreign tech firms after Huawei sales ban: sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/09/2019 | 05:03am EDT
FILE PHOTO: A Huawei logo is seen outside the fence at its headquarters in Shenzhen

BEIJING (Reuters) - China summoned global technology companies for talks last week following last month's U.S. ban on selling technology to China's Huawei Technologies Co Ltd, two people familiar with the matter told Reuters on Sunday.

The blacklisting of Huawei, the world's largest maker of telecoms network equipment, bars U.S. companies from supplying it with many goods and services due to what Washington said were national security issues, a potentially crippling blow that sharply escalated U.S.-China trade tensions.

Huawei denies that its equipment poses a security threat.

Soon afterwards, Beijing announced it would release its own list of "unreliable" foreign entities. It also has hinted that it will limit its supply of rare earths to the United States.

A person at U.S. software giant Microsoft Corp said the company's session with Chinese officials was not a direct warning but it was made clear to the firm that complying with U.S. bans would likely lead to further complications for all sector participants.

The company was asked not to make hasty or ill-considered moves before the situation was fully understood, the person said, adding that the tone was conciliatory.

Microsoft declined to comment.

The New York Times first reported on the meetings led by the National Development and Reform Commission (NDRC), saying major foreign tech firms were warned against complying with a U.S. ban on selling American technology to Chinese firms or potentially face what the newspaper described as dire consequences.

The NDRC did not immediately reply to a faxed request for comment from Reuters.

It is not unusual for China to summon representatives of foreign and domestic companies, sometimes in groups, to make its views heard.

One person with another U.S. tech company in China who was briefed by colleagues on the company's meeting told Reuters that the tone was "much softer" than expected.

"No mentioning of Huawei. No ultimatums. Just asked to stay in the country, contribute to the win-win negotiation," the person said, declining to be identified by name or company given the sensitivity of the matter.

"I think they realize they still need U.S. tech and products for now; self-sufficiency will take a long time, and only after then they can kick us out," the person said.

The New York Times reported that other companies summoned for meetings last Tuesday and Wednesday included U.S. computer maker Dell Technologies Inc, South Korea's Samsung Electronics Co Ltd and SK Hynix Inc, and British chip designer ARM, which last month halted supplies to Huawei.

Samsung and SK Hynix declined to comment. Dell did not immediately respond on Sunday to an emailed request for comment and a spokesperson for ARM could not immediately be reached.

Separately, the editor of China's Global Times tabloid said on Saturday that Beijing was preparing to curb some tech exports to the United States. In a tweet, Global Times Editor-in-Chief Hu Xijin said that China "is building a management mechanism to protect China's key technologies."

"This is a major step to improve its system and also a move to counter U.S. crackdown," he added. "Once taking effect, some technology exports to the U.S. will be subject to the control."

Hu did not cite any named sources in his tweet. The Global Times is a tabloid published by the ruling Communist Party's official People's Daily.

Also on Saturday, Chinese state media outlet Xinhua reported that the NDRC would organize a study to establish a "national technological security management list system".

Last week, Reuters reported that Facebook Inc was no longer allowing pre-installation of its apps on Huawei smartphones.

(Reporting by Cate Cadell and Michael Martina in Beijing; Additonal reporting by Ju-min Park in Seoul and Stella Qiu in Beijing; Writing and additional reporting by Tony Munroe; Editing by Christopher Cushing)

By Cate Cadell and Michael Martina

Stocks mentioned in the article
ChangeLast1st jan.
DELL TECHNOLOGIES INC -1.03% 56.8 Delayed Quote.17.43%
MICROSOFT CORPORATION 0.15% 136.62 Delayed Quote.34.16%
SAMSUNG ELECTRONICS CO LTD End-of-day quote.
SK HYNIX INC End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SK HYNIX INC
01:33pFrom beer to pens, South Koreans boycott Japanese brands as diplomatic row in..
RE
07/18SK HYNIX : South Korea urges Japan to accept request for talks over export contr..
RE
07/18TSMC expects 5G earnings boost, flags S.Korea-Japan spat as risk
RE
07/18Japan-South Korea gloom spurs worries of 'never seen before' chip price spike
RE
07/16ANALYST : Japan dispute with Korea could cripple U.S.' China tech policy
AQ
07/16Samsung, SK Hynix ask Korean firm to boost chemicals supply amid Japanese cur..
RE
07/15ASIA MARKETS: Asian Markets Little Changed As Investors Await Earnings Report..
DJ
07/14ASIA MARKETS: Asian Markets Recover After China's GDP Growth Fails To Meet Al..
DJ
07/13SK HYNIX : South Korea 'clearly' called for withdrawal of Japan's export curbs a..
RE
07/12Japan, South Korea fail to mend dispute with frosty meeting
RE
More news
Financials (KRW)
Sales 2019 26 095 B
EBIT 2019 3 413 B
Net income 2019 2 791 B
Debt 2019 405 B
Yield 2019 2,04%
P/E ratio 2019 19,9x
P/E ratio 2020 11,4x
EV / Sales2019 2 013x
EV / Sales2020 1 842x
Capitalization 52 531 B
Chart SK HYNIX INC
Duration : Period :
SK Hynix Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 36
Average target price 85 185,71  KRW
Last Close Price 76 800,00  KRW
Spread / Highest target 30,2%
Spread / Average Target 10,9%
Spread / Lowest Target -36,2%
EPS Revisions
Managers
NameTitle
Seok-Hee Lee Chief Executive Officer & Director
Joon-Ho Kim Co-President, Director & Head-Management Support
Tae-Won Chey Chairman-Executive Board
Myung-Young Lee Senior Managing Director & Head-Finance
Sang-Seon Lee Senior MD & Head-Production and Technology
Sector and Competitors
1st jan.Capitalization (M$)
SK HYNIX INC43 448
INTEL CORPORATION5.24%223 581
TAIWAN SEMICONDUCTOR MFG. CO. LTD.--.--%212 079
BROADCOM INC13.96%115 354
TEXAS INSTRUMENTS24.00%111 243
NVIDIA CORPORATION27.48%103 640