Hayasaka added, “As a company, we make disciplined decisions that are in the best interest of all our stakeholders and we will revisit an IPO at an appropriate time. We are not in a rush.”
Commerce Department imposed new licensing restrictions on Huawei
In August, the U.S. Department of Commerce announced new licensing restrictions targeting Chinese tech giant Huawei, forcing non-U.S. chip producers who utilize U.S. technology to receive approval before selling their products to Huawei.
The move has effectively placed a stranglehold on the global chip market since the ultimate purpose of the sanctions is to hinder Chinese tech’s growing influence. As a whole, this is all part of the Trump administration’s ongoing battle with the Chinese government over issues of intellectual property theft, trade, and escalating tensions within the South China Sea.
Experts have pointed out that the U.S. government’s stance has wide ranging implications for firms across the globe in addition to Chinese and American firms. Whether the rules will remain in place after the November 2020 election remains to be seen.
