ZTE is seemingly in the clear in regards to the possibility of the Commerce Department’s crippling denial order being reinstated by Capitol Hill shortly after being revoked as stateside lawmakers removed a threatening measure from this year’s iteration of the United States defense bill, Reuters reports, citing a person close to the Congress. The Senate […]
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The United States Department of Commerce on Friday completely lifted the denial order imposed on Chinese electronics and telecom gear manufacturer ZTE nearly three months after first issuing it in response to violations of a 2017 settlement over broken import embargoes imposed on Iran and North Korea. As of today morning PST, ZTE can no […]
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ZTE believes it lost between $1 billion and $1.35 billion over the course of the first half of the year due to the U.S. Commerce Department’s denial order from April, the company said as part of its latest preliminary financials published earlier today. The Chinese original equipment manufacturer attributed the majority of that deficit to […]
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A number of United States Senators continued their push for reinstating ZTE’s trade ban on Thursday, having authored a letter urging the House and Senate defense committees to stick with a defense bill amendment designed to reverse President Trump’s lifeline deal with the Chinese electronics manufacturer. ZTE has been the subject of significant political friction […]
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ZTE replaced its ousted Chief Executive Officer with Xu Ziyang, the former director of its Germany operations, in addition to making a wide variety of other major C-suite management changes, the company said Thursday. The Shenzhen, Guangdong-based firm also appointed Li Ying, Wang Xiyu, and Gu Junying as its Executive Vice Presidents, with Li also being […]
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ZTE has now been granted authorization by the Commerce Department’s Bureau of Industry and Security to support existing networks and equipment from July 2 until August 1. The news is accompanied by an ongoing debate and bids to reinstate more stringent sanctions, with legislators still expressing concerns about national security. Previously, the company had been forced […]
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ZTE ejected its entire board of directors over its previous violations of U.S. trade sanctions imposed on Iran and North Korea, as well as its inability to comply with the terms of a 2017 settlement meant to resolve the issue, the company said Friday. The eight members of the old board handed in their resignations […]
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The Trump administration is reportedly planning to obstruct the U.S. Congress’ legislative attempt to reverse an agreement it reached with ZTE, which allowed the Chinese telecommunications equipment company to restore its business transactions with hardware suppliers in the United States despite its repeated violations of international trade sanctions and settlements, recent reports indicate. The deal was confirmed […]
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New details have reportedly emerged about the settlement ZTE will need to pay to the U.S. government before business can resume with American components manufacturers. For the most part, that’s said to include both a $1 billion fine and the placement of $400 million in escrow to be held in a U.S.-based bank of ZTE’s choosing. […]
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Qualcomm Chief Executive Officer Steven Mollenkopf on Thursday said the renegotiated trade settlement between the U.S. Commerce Department and China’s ZTE may help accelerate the approval of the San Diego, California-based chipmaker’s bid for Dutch NXP Semiconductors. “I hope it means something good to us, but we are really focused more on our individual application,” […]
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