The rule only includes chips designed by Huawei and does not cover shipments if they are sent directly to Huawei's customers.
US on Friday moved to block global chip supplies to blacklisted telecoms equipment company Huawei Technologies.
Trump declared a national emergency and barred US companies from using telecommunications equipment made by firms posing a national security risk.
Zhengfei said that Huawei is working on a "large scale" solution to tackle the ban it faced in the US.
US President Donald Trump and Chinese President Xi Jinping are expected to discuss Huawei this weekend
An employee not affected by the layoffs said work had come to a standstill since Huawei was blacklisted.
President Donald Trump had announced that US companies would be allowed to sell products to Huawei
Equipment that won’t pose as a ‘great national security problem’ will be allowed to be sold
Any advantage that Samsung gains from the US move against Huawei would also lead to business loss.
Analysts say the US ban will damage Huawei's ability to sell phones outside China
Huawei will no longer be able to offer its popular Android apps to buyers of new phones
The launch of the Honor 20 Series smartphone will be happening as usual in London tomorrow.