U.S. revokes some export licenses to sell chips to Huawei in a bid to curb China's tech power
Publishing timestamp: 2024-05-07 22:42:37
Summary
The US revoked certain licenses for chip exports to Huawei as part of efforts to curb China's tech power. Huawei's consumer business is seeing a resurgence after launching the Mate 60 Pro smartphone. Qualcomm expects to be further impacted by restrictions on selling to Huawei. Apple is facing pressure from Huawei in China as iPhone sales decline. Huawei's net profit grew significantly in 2023.
Sentiment: MIXED
Keywords: politics, breaking news: technology, breaking news: politics, business news, intel corp, apple inc, technology, qualcomm inc,
Source: https://www.cnbc.com/2024/05/08/us-revokes-some-export-licenses-to-sell-chips-to-chinas-huawei.html