ZTE Business Operations Grind to a Halt Due to US Export Ban

10 May, 2018, 00:41 | Author: Leah Owens
  • ZTE's booth during Mobile World Congress in Barcelona

Chinese technology company ZTE said late Wednesday it has halted its main operations after USA authorities banned it from doing business with American suppliers.

After getting cut-off from American technology suppliers last month, many of us have been wondering what ZTE would do without access to so many of its critical suppliers.

ZTE was served with a seven-year ban from buying USA technology products three weeks ago, after it was found to have violated sanctions involving bonuses issued to employees who shipped telecommunications equipment to Iran and North Korea.

A US delegation traveled to Beijing last week to discuss the brewing trade conflict with their Chinese counterparts. And the crackdown has been interpreted as part of a broader push by the United States to stifle China's tech ambition.

It's been unclear what would become of ZTE for the past few weeks following an export ban against the company earlier this year by the USA government.

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"As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject in compliance with laws and regulations", it said. No further details were offered.

Taiwanese semiconductor company Mediatek (2454.TW) said last week it had received a permit from the Taiwanese government to continue to supply ZTE.

Earlier today, in fact, the Chinese smartphone/telecom manufacturer announced that it had ceased its main business operations as it attempts to figure out the best way forward.

The out-of-court settlement demanded that the company take action against the employees responsible for the leak, but the company failed to do so, which resulted in a ban that forbids USA firms from supplying it with components and technology.

Those firms did not immediately respond to requests for comment Wednesday.

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