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[Apha Biz=(Chicago) Reporter Paul Lee] Shares of SK Hynix are falling sharply after news broke that SK Hynix's memory semiconductors were used in new Huawei smartphones in China.
As of 2 p.m. on the 8th, shares of SK Hynix were traded at 113,000 won, down 4.64 percent from the previous trading day.
While global semiconductor companies are in turmoil due to intensifying competition between the U.S. and China, the controversy over Huawei is seen as causing a blow to stock prices.
On the previous day, Bloomberg commissioned Tech Insights, a semiconductor analysis company, to analyze Huawei's "Mate 60 Pro" smartphone and found that SK Hynix's DRAM was included.
In response, SK Hynix explained that it has launched its own investigation, saying it has no longer traded with Huawei since the U.S. sanctions against Huawei were introduced.
In May 2020, the U.S. government expanded its companies to overseas, which are not allowed to export semiconductors containing U.S. technology to Huawei. Since then, Huawei and its affiliates have been placed on the Commerce Department's Trade Restriction List (entity list), called the Blacklist, to impose export regulations.
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