U.S. officials have approved license applications worth hundreds of millions of dollars for China's blacklisted telecom company Huawei to buy chips for its growing auto component business, two people familiar with the matter said.
Auto chips are generally not considered sophisticated, lowering the bar for approval. One person close to the license approvals said the government is granting licenses for chips in vehicles that may have other components with 5g capability. A Huawei spokeswoman declined to comment on the licenses, but said:"We are positioning ourselves as a new component provider for intelligent connected vehicles, and our aim is to help car OEMs build better vehicles."
Huawei reported its biggest ever revenue drop in the first half of 2021, after the U.S. restrictions drove it to sell a chunk of its once-dominant handset business and before new growth areas have fully matured.
jimmy_dore Timcast KimIversenShow reason
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive-U.S. approves licenses for Huawei to buy auto chips - sourcesU.S. officials have approved license applications worth hundreds of millions of dollars for China's blacklisted telecom company Huawei to buy chips for its growing auto component business, two people familiar with the matter said. Huawei, the world's largest telecommunications equipment maker, has been hobbled by trade restrictions https://www.reuters.com/world/china/exclusive-trump-admin-slams-chinas-huawei-halting-shipments-intel-others-sources-2021-01-17 imposed by the Trump administration on the sale of chips and other components used in its network gear and smartphones businesses. The Biden administration has been reinforcing the hard line https://www.reuters.com/technology/biden-administration-adds-new-limits-huaweis-suppliers-2021-03-11 on exports to Huawei, denying licenses to sell chips to Huawei for use in or with 5g devices.
Source: YahooSG - 🏆 3. / 71 Read more »
Exclusive-U.S. approves licenses for Huawei to buy auto chips - sourcesU.S. officials have approved license applications worth hundreds of millions of dollars for China's blacklisted telecom company Huawei to buy chips for its growing auto component business, two people familiar with the matter said. Huawei, the world's largest telecommunications equipment maker, has been hobbled by trade restrictions https://www.reuters.com/world/china/exclusive-trump-admin-slams-chinas-huawei-halting-shipments-intel-others-sources-2021-01-17 imposed by the Trump administration on the sale of chips and other components used in its network gear and smartphones businesses. The Biden administration has been reinforcing the hard line https://www.reuters.com/technology/biden-administration-adds-new-limits-huaweis-suppliers-2021-03-11 on exports to Huawei, denying licenses to sell chips to Huawei for use in or with 5g devices.
Source: YahooSG - 🏆 3. / 71 Read more »
Blackstone in talks to buy Baring's Interplex for at least $1 bln -sources
Source: TODAYonline - 🏆 1. / 99 Read more »
Taiwan seeks again to reassure US over tackling chip shortageTAIPEI: Taiwan is doing all it can to address the global shortage of semiconductors, Economy Minister Wang Mei-hua said on Tuesday (Aug 24) after talks with the newly-appointed de facto US ambassador in Taipei, a problem that has idled some auto production lines. Democratic US senators from Michi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive-SEC gives Chinese companies new requirements for US IPO disclosuresThe U.S. Securities and Exchange Commission (SEC) has started to issue new disclosure requirements to Chinese companies seeking to list in New York as part of a push to boost investor awareness of the risks involved, according to a document reviewed by Reuters and people familiar with the matter.Some Chin
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »