The US Department of Commerce’s export ban, which prevents ZTE from buying software, hardware and tech components from US companies, has affected the Chinese manufacturer more than expected, a new report released today said.

“As a result of the Denial Order, the major operating activities of the company have ceased,” ZTE said in the exchange filings late on Wednesday.

“As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject in compliance with laws and regulations,” it said.

The company has apparently lost access to technology of its US-based supply chain that includes the Qualcomm Snapdragon chips and the license that allows it to install the open-source version of the Android operating system.

Washington banned US companies from trading with ZTE for 7 Years

ZTE has got in this big trouble by selling products and services to Iran and North Korea, violating US sanctions for trade. A ban, at least for now, will last seven years. The US has recently said it is also investigating China’s Huawei smartphone manufacturer for violating US sanctions against Iran.

Huawei, the third-largest smartphone maker in the world, has some advantages over ZTE. First of all, he designs and uses his own Kirin chipsets and develops his own operating system just in case they get caught up for their scams.

In 2012, both Huawei and ZTE were accused by US officials for espionage – something the two companies continue to deny today. Both ZTE and Huawei are forbidden to sell their equipment to US military. Post from: GizBrain

https://i2.wp.com/szlifestyle.com/sz/wp-content/uploads/2018/05/zte.jpg?fit=900%2C601https://i2.wp.com/szlifestyle.com/sz/wp-content/uploads/2018/05/zte.jpg?resize=180%2C150Martin JonesHUAWEITECH NEWSZTEHuawei,Qualcomm,smartphone,Technology,ZTEThe US Department of Commerce's export ban, which prevents ZTE from buying software, hardware and tech components from US companies, has affected the Chinese manufacturer more than expected, a new report released today said. “As a result of the Denial Order, the major operating activities of the company have ceased,”...