Hong Kong/Shanghai — Chinese technology giant Huawei said on Friday that the effect of US trade restrictions on its business will be less than it initially feared, though the curbs could push its smartphone unit’s revenue lower by about $10bn in 2019.

Huawei’s $100bn business has been hit hard since mid-May after Washington put the world’s second-largest smartphone maker on a so-called entity list that threatens to cut off its access to essential US components and technology.

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