China's ZTE Faces Long-Lasting Damage From U.S. Trade Sanctions

Forbes - Tech 

This picture taken on May 3, 2018 shows the ZTE logo on an office building in Shanghai. Telecom giant ZTE may have temporarily escaped a "death sentence," after the U.S. tentatively lifted a ban that would have blocked the Chinese company's access to American technology, but its outlook is anything but certain as it reels from mounting losses, management tumult and renewed political uncertainties. The Shenzhen-based company had about $6 billion wiped off its market value in just three days last week after its shares finally resumed trading on both the Hong Kong and Shenzhen stock exchanges. The company's stock had been suspended since mid-April when the sanctions were announced. ZTE said on June 8 it had agreed to pay a total of $1.4 billion in fines and overhaul its senior management ranks in exchange for removing a ban on purchasing the components and services needed for assembling its smartphones and telecom gear.

  Technology: Information Technology > Communications > Mobile (0.38)

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