Qualcomm lobbies U.S. to sell chips for Huawei 5G phones: WSJ

Economy13 hours ago (Aug 08, 2020 11:30AM ET)

(Reuters) – Chipmaker Qualcomm (NASDAQ:QCOM) Inc is lobbying the U.S. government to revoke restrictions on sale of components to Huawei Technologies Co [HWT.UL], after the Chinese company was blacklisted by the United States, The Wall Street Journal reported on Saturday.

Qualcomm is lobbying to sell chips to Huawei that the Chinese company would include in its 5G phones, according to the report, citing a presentation by Qualcomm.

With these restrictions, the U.S. has handed Qualcomm’s foreign competitors a market worth as much as $8 billion annually, the report said.

Qualcomm did not immediately reply to a Reuters request for comment.

The company resolved a licensing dispute with Huawei last month, which will pay Qualcomm a catch-up payment of $1.8 billion in the fiscal fourth quarter.

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