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May 10, 2018 01:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/w98F6JRMPzk/zte-shuts-down-main-business-operations-after-us-ban
ZTE Shuts Down Main Business Operations After US Ban
An anonymous reader quotes a report from TechCrunch: ZTE wasn't kidding around when it suggested that a U.S. Department of Commerce order would "severely impact" its survival. It's hard to image a successful path around the seven-year ban on the sale of U.S. products to the company imposed after it reportedly failed to sufficiently reprimand staff for flouting Iranian sanctions. Earlier today, in fact, the Chinese smartphone/telecom manufacturer announced that it had ceased its main business operations as it attempts to figure out the best way forward. "As a result of the Denial Order, the major operating activities of the company have ceased," the company wrote in an exchange filing spotted by Reuters. "As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject in compliance with laws and regulations."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/w98F6JRMPzk/zte-shuts-down-main-business-operations-after-us-ban
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