Since the past few weeks, more and more companies are getting approval from the United States to resume doing business with the Chinese giant Huawei. In line with that, the world’s leading chipset maker Qualcomm has now confirmed that the company has applied for a license to supply chipsets to Huawei.
The confirmation comes from Qualcomm’s CEO Steven Mollenkopf when he was revealing the company’s performance for the fiscal year 2020. However, it has been confirmed that Qualcomm has applied for the license but hasn’t been granted it yet.
In the past few weeks, companies like Intel, AMD, Samsung Display, and Sony among others have received permission from the United States government to continue doing business with Huawei.
This is an important development for the Chinese giant, which is currently working on its options to keep its business afloat as more and more restrictions imposed on the company threatens its survival.
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As per the reports, more than 300 companies have applied for a special license that is needed from the U.S. government to continue conducting business with Huawei. From that, about one-third have been granted a license.
Recently, it was reported that the United States is providing licenses to the companies as long as the components supplied to Huawei are not being used for the 5G business. Apart from Qualcomm, Samsung Electronics is also waiting for approval.
In the fourth-quarter results published by Qualcomm for the fiscal year 2020, it reported $6.5 billion in revenue, higher than its estimation of $5.93 billion. The company had reported $4.8 billion in revenue over the same period last year, making this a 35% year-over-year increase.
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