China’s ZTE pleads guilty, settles US sanctions case for nearly $900 mln

By Karen Freifeld and Sijia Jiang NEW YORK/HONG KONG, Mar 8 : Chinese telecom equipment maker ZTE Corp has agreed to plead guilty and pay nearly $900 million in a U.S. sanctions case, drawing a line under a damaging scandal that had threatened its cut off its supply chain. While the fine was larger than […]

US extends ZTE’s sanctions relief until March 29

By Karen Freifeld NEW YORK, Feb 23 : Chinese telecom equipment maker ZTE Corp has been granted a new reprieve from export restrictions imposed on the company by the US government. In an online posting today, the US Commerce Department extended ZTE’s temporary export license until March 29. The extension allows US firms to continue […]

US extends ZTE’s sanctions relief until March 29

By Karen Freifeld NEW YORK, Feb 23 : Chinese telecom equipment maker ZTE Corp has been granted a new reprieve from export restrictions imposed on the company by the US government. In an online posting today, the US Commerce Department extended ZTE’s temporary export license until March 29. The extension allows US firms to continue […]

China’s ZTE to slash about 3,000 jobs -sources

By Sijia Jiang HONG KONG, Jan 10 : Chinese telecom equipment maker ZTE, which is facing U.S. trade sanctions that could severely disrupt its supply chain, is slashing about 3,000 jobs, including a fifth of positions in its struggling handset business in China, company sources said. The sources said the Shenzhen-based company, one of the […]

China’s ZTE said to appeal US export ban after lobby efforts fail

By Steve Stecklow and Joel Schectman LONDON/WASHINGTON, Mar 16 : China’s ZTE Corp will appeal tough U.S. export restrictions imposed last week, according to a person familiar with the matter, after the telecom equipment maker’s costly lobbying effort failed to allay concerns about its business. The US Commerce Department imposed restrictions on U.S. suppliers providing […]