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undergroundnewsroom.com May 27, 2018


ZTE Ceases Operations After US Government Ban

10 May 2018, 02:06 | Gordon Grant

ZTE Halts Android Phone Sales In China Amid US Row

ZTE requests that US Department of Commerce suspend seven-year ban

ZTE may be suspending major activities to throw their full weight behind their argument against the US government.

The Chinese OEM said in its exchange filings that their major operating activities have been halted after the enforcement of the Denial Order.

ZTE was accused of violating U.S. sanctions on North Korea and Iran, as well as lying to USA officials. They did say that they are able to maintain "sufficient cash" and strictly adhere to their commercial obligations despite the fact that they are ceasing "major operating activities".

Reuters reported that work had slowed for ZTE employees since Commerce cut the firm off from its USA suppliers.

ZTE is halting its major operations less than a month after the United States banned American companies from selling components to the Chinese manufacturer. It said that it had submitted a request to the US Commerce Department for the suspension of the ban. While the company also uses chips from Taiwanese firm MediaTek, those aren't powerful enough for ZTE's premium handsets - only Qualcomm's fit the bill.

The ban on sales to ZTE has also highlighted China's heavy dependence on semiconductor imports between growing trade stress with the US.

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Although US officials have said the action taken against ZTE is not related to trade policy, some believe it is reflective of the wider treatment of Chinese technology firms by America.

US authorities imposed the penalty after discovering that Shenzhen-based ZTE had misled regulators involving the illegal shipments to North Korea and Iran. The ban is set to last 7 years, but ZTE has feverishly contested the ruling, claiming that the ban would irreversibly damage the brand. The company paid out a £1.2 billion (roughly Rs. 8,000 crores) nice from situation but failed to discipline employees engaged and compensated them bonuses instead.

We'll keep you updated on ZTE, but things sure do look bad at the moment.

According to reports, workers at the company's headquarters in Shenzhen are reporting to work but "with not much to do".

Last year, ZTE agreed to settle with the United States government for $892 million forviolating lawsthat prohibit the sale of American technology to Iran and North Korea.



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