SoftBank-owned chip designer Arm changed the leadership of its joint venture in China, with two executives taking combined control, Bloomberg reported suggesting a connection to Huawei’s US struggles.
Ken Phua and Phil Tang were appointed interim co-CEOs, replacing Allen Wu who was chairman and CEO. In a statement,
Arm explained in a statement it was still committed to the China venture’s “progress and vision”, Bloomberg wrote.
The move comes as China take steps to reduce its reliance on imported technologies while the US tightens restrictions on Chinese companies, particularly Huawei. Arm continues to supply technology to Huawei’s HiSilicon unit.
Arm, which was acquired by SoftBank in 2016, sold a 51 per cent stake [1] of its operations in China to a joint venture with Chinese partners in May 2018. The JV handles the licensing and royalties business with local partners.
Key investors are Hopu-Arm Innovation Fund, sovereign wealth fund China Investment, the Silk Road Fund, Singaporean sovereign wealth fund Temasek Holdings, Shenzhen government-owned conglomerate Shum Yip Group and Hopu Investment Management.
Arm is headquartered in the UK and employs 6,000 workers across eight offices in the US.
[1] https://www.mobileworldlive.com/asia/asia-news/arm-gives-control-of-china-unit-to-jv/
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