Apple is lobbying the government for approval to procure memory chips from ChangXin Memory Technologies (CXMT).

Odaily Planet Daily News Apple is lobbying the Trump administration for approval to procure memory chips from the Chinese chip company ChangXin Memory Technologies (CXMT). Due to multiple factors leading to a rise in memory chip prices, Apple this Thursday took the unusual step of raising the prices of its MacBook and iPad, resulting in a $263 billion loss in its market value. Apple hopes to relieve financial pressure from its suppliers by adding CXMT to its list of memory suppliers.

ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC) have been placed on the U.S. Department of Defense's list of Chinese military companies (i.e., the 1260H list). The U.S. Department of Commerce last year planned to add CXMT to the Entity List, but the White House postponed the plan due to ongoing trade negotiations with China. Currently, apart from Chinese companies, the global memory chip industry is largely dominated by three companies: U.S.-based Micron, South Korea's Samsung, and SK Hynix. (FT)