U.S. Markets closed

Qorvo stops chip shipments to Huawei

(Reuters) - Radio frequency chipmaker Qorvo on Tuesday joined mobile parts maker Lumentum Holdings Inc in halting shipments to Huawei Technologies, following export restrictions by the United States government.

Qorvo expects to take a $50 million hit in first-quarter revenue due to the halt in shipments.

The company said it cannot predict when it will be able to resume shipments.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by Arun Koyyur)