Micron resumes some shipments to Huawei
NEW YORK : Memory-chip maker Micron Technology said it had resumed some shipments to China's Huawei Technologies and still expected demand for its chips to recover later this year, sending its shares 10 per cent up late on Tuesday.
Micron Chief Executive Sanjay Mehrotra said the Idaho-based maker of chips for smartphones and other devices resumed shipping some chips in the past two weeks after it reviewed the US ban on selling products to the China-based telecommunications company.
"We determined that we could lawfully resume shipping a subset of current products because they are not subject to export administration regulations and entity list restrictions," Mr Mehrotra said on a conference call with investors.
"However, there is considerable ongoing uncertainty surrounding the Huawei situation, and we are unable to predict the volumes or time periods over which we will be able to ship products to Huawei."
Micron and other chipmakers suspended shipments to Huawei after the US government on May 15 added the world's biggest telecoms equipment maker and 68 affiliates to an "Entity List", banning it from acquiring components and technology from US firms without government approval.
The New York Times on Tuesday reported, citing sources, that Intel Corp had also resumed shipping some products to Huawei.
Intel declined to comment. - REUTERS