US 5G Deployment Will Be 2nd-Half 'Event': Analog Devices CFO
Analog Devices' communications business generated 18% of Q1 sales, and revenue was down 10% sequentially from Q4 but up 16% year over year, said Chief Financial Officer Prashanth Mahendra-Rajah on a fiscal Q1 investor call Wednesday. Wireless and wireline revenue…
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grew by double digits from the year-earlier quarter, “despite zero revenue from Huawei this quarter” due to the Commerce Department’s export restrictions on the Chinese telecom giant, he said. The chipmaker has said consistently that big U.S. deployment of 5G "is going to be a second-half event,” said Mahendra-Rajah. “Our view on that has not changed. What we have seen is a bit more of a slowdown in China as they’re digesting the 5G that they have deployed and the channel counts are a bit lower.” The company doubts it can grow communications revenue year over year, “given the significant headwind from Huawei going to zero,” said Mahendra-Rajah. “That’s a tough ask."