(Reuters) US officials have reportedly approved Huawei’s license applications to buy chips for its auto component business.
The licenses are worth hundreds of millions of dollars even as Huawei moves towards business items that are least likely to attract the US ban.
The approval marks a change of stance by Washington after the Biden administration previously declined licenses to sell chips to China’s Huawei.
The US has cited foreign policy and national security interests in its previous attempts to block Huawei’s key communications-linked business.
Huawei posted a record revenue drop in the first six months of this year, following US restrictions after selling a major section of its dominant handset business.
