Qualcomm is lobbying for the removal of a U.S. policy restricting the sale of American chips to Huawei on the grounds that the limits strip it of access to a market worth as much as $8 billion annually.

Qualcomm is arguing that the restrictions will not prohibit Huawei from obtaining necessary components and just risks handing billions of dollars of U.S. sales to foreign competitors like MediaTek and Samsung, the Wall Street Journal reported Saturday, citing a presentation by Qualcomm.

There could be a “rapid shift in 5G chipset market shares” if Qualcomm is subject to the export restrictions while its foreign rivals are not, Qualcomm said in the presentation, according to the Journal.

Last month, Qualcomm and Huawei settled their protracted patent licensing dispute in a deal that allows the U.S. chipmaker to receive a $1.8 billion payment from the Chinese tech giant to cover previously unpaid licensing fees.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Update: Huawei Says Supply of Flagship Chipsets to End Under U.S. Sanctions