US Move Against Chinese Tech Giant Cripples It

10 May, 2018, 14:06 | Author: Franklin Nunez
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ZTE was hit by a ban last month from Washington, forbidding US firms from supplying it with components and technology after it was found to have violated USA export restrictions by illegally shipping goods to Iran.

Analysts have also stated that it would be hard for ZTE to stay competitive, even if it could find non-US alternatives to its key components. ZTE stated that the company has enough cash on hand to fulfill its current "commercial obligations" and that it is "actively communicating" with the United States in hopes of reversing the denial order.

ZTE is continuing to communicate with the U.S.in order to revise or reverse the order.

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.

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In a bid to get the ban removed, the company has submitted an application to the U.S. Commerce Department's Bureau of Industry and Security (BIS) requesting it be suspended. The ban even potentially extended to Android, the Google-made operating system that powers ZTE's phones.

Furthermore, the two countries have been locked in a trade spat, with USA slapping around US$50 million worth of trade tariffs on China, following a seven-month long investigation into American intellectual property theft by the one-party state. This export ban prevents companies from supplying ZTE with parts and technology.

The news was revealed in a press release which noted that, "the major operating activities of the Company have ceased".

During a recent visit with United States trade officials, China raised concerns about the plight of ZTE.

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In attempt to find the now missing components that were supplied by American companies such as Qualcomm Inc. and Intel Corp., ZTE is turning to Taiwan-based chipmaker Mediatek Inc.

We'll keep you posted as this situation continues to unfold. The DoC activated the ban in order to punish ZTE for failing to meet the requirements of a settlement reached previous year.

One ZTE employee said manufacturing had ceased and workers are keeping busy with training, Nikkei reported. Is the export ban against the company fair?

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