iFlyTek (SHE:002230) is aiming to expand its operations in Europe amid the trade war with the US and China, Reuters reported Thursday, citing an interview with Vice President Vincent Zhan.
Trade tensions between China and the US affect the artificial intelligence firm as North America is their largest market outside of China in terms of demand, the report said, citing Zhan.
iFlyTek is looking to diversify its supply chain to mitigate the impact from the trade war, the report said.
Zhan's remarks on the sidelines of the Mobile World Congress in Barcelona come after US President Donald Trump slapped 20% tariffs on Chinese electronics categories that have not been touched by prior levies, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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