- Global supplier of advanced wafer products and materials solutions to the semiconductor industry IQE revealed its maximum risk exposure to the action taken by the US against Chinese smartphone maker Huawei at less than 5% of 2019 revenue guidance.

The company has left its full year guidance unchanged. CEO Drew Nelson, Chief Executive of IQE, said: 'The recent ban on sales of products from US companies to Huawei and its affiliates is a factor completely outside of IQE's control.

'However, our long-term strategy of supplying as many of the supply chains into all major OEMs as possible, protects IQEs overall supply to a very significant degree. As a result, we believe the ban will have a limited impact on our mid to long term revenue trajectory.

'Indeed, the breadth of IQE's current product range, the new materials technologies being introduced to market over the coming months and years, and IQE's global manufacturing footprint are powerful mitigating factors in dealing effectively with the ongoing changing geopolitical landscape in our industry.'

At 8:20am: [LON:IQE] IQE PLC share price was +0.58p at 74.13p

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