Re: Smartphone business is on the way out
The restriction on Huawei seems to be on the usage by silicon foundries of US sourced software (and thus subject to US export licencing) in the design of chips and production control on their contracts with Huawei.
So the way around this will be to develop such programs which don't require US export licences.
Plus given how murky company ownership can be, Huawei could do a Nokia and 'exit' the phone business, so that some other entity (Microsoft in Nokia's case) can produce and sell 'Huawei' phones...