ZTE has ceased 'major operating activities' due to USA supply ban

ZTE's booth during Mobile World Congress in Barcelona

ZTE said on Wednesday in a public filing that it has halted "major operating activities" after a U.S. ban against the company became effective.

In an announcement to shareholders, ZTE said [PDF] that the major operating activities of the company have ceased due to the activation of the denial order from the US Department of Commerce's Bureau of Industry (BIS). The Chinese smartphone manufacturer has been hit hard by the U.S. Department of Commerce (Doc), which banned American companies from selling components to ZTE last month.

ZTE can always try to find other suppliers for its components. "The organization and related parties are actively communicating with all the appropriate USA government departments in order to ease the modification or adjustment of the Denial Order from the united states administration and forge a beneficial outcome in the maturation of the topics".

According to Reuters, ZTE has ceased all major operations following the USA export ban it faces, following a failure to have the ban reversed or modified.

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The ban by the US Government against US companies selling tech to ZTE, China's second biggest telecom equipment maker, came after it was found to have violated US export restrictions by illegally shipping goods to Iran. Earlier this week, it was announced that Huawei and ZTE phones had been banned from military stores.

-China trade war. The Chinese government raised the issue of ZTE last week with a visiting US trade delegation.

US authorities imposed the penalty after discovering that Shenzhen-based ZTE had misled regulators involving the illegal shipments to North Korea and Iran. Between 2010 and 2016, the company shipped $32 million worth of equipment to Iran that included US components without authorization. The Chinese vendor previously said that its business could be heavily impacted if the company fails to reach an agreement with the U.S government over the ban. Now, it's been revealed that the company is ceasing major operations. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.

A ZTE employee told Reuters that staff had been reporting to work as normal but "with not much to do". The employee, who declined to be named, said business trips had been halted. Of course, a company would also have to pretty foolish to reward executives that flaunted a United States embargo rather than cutting their pay or firing them altogether.

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