Worldwide

Chinese Mobile Device Maker ZTE Banned From Buying US Goods

Chinese Mobile Device Maker ZTE Banned From Buying US Goods”

This came hours after the U.S. Department of Commerce announced activation of denial of export privileges against leading Chinese telecom equipment maker ZTE Corp for alleged violations of the Export Administration Regulations.

The sanction against ZTE comes after the Chinese company pleaded guilty in 2017 for the illegal shipment of United States equipment to Iran and North Korea. In particular, ZTE had told the BIS it had disciplined the executives responsible for its illegal deals with Iran and North Korea, but in reality none of the individuals were actually disciplined but rather given bonuses.

China's Ministry of Commerce said Tuesday, that it "will closely follow the developments" in the ZTE case.

The ban - which is in full effect - means American electronics companies such as Qualcomm will not be able supply the company with its processors and hardware for a period of up to seven years.

"We're deeply concerned about the risks of allowing any company or entity that is beholden to foreign governments that don't share our values to gain positions of power inside our telecommunications networks", FBI Director Christopher Wray said at the time. The new order means the Chinese telecom giant can no longer receive USA components to incorporate into its products. President, Donald Trump, accused China along with Russian Federation on the issue of devaluation of the currency.

Severe action: The US ban threatens ZTE viability as the company is estimated to receive 25 to 30 percent of its components from US firms. ZTE already sells both its branded and white-label smartphones via mobile carriers AT&T and Verizon in the US.

Five more athletes missing from Commonwealth Games village
Team Cameroon's Chef de Mission , Victor Agbor Nso said the Cameroon team has filed an official complaint with Australian police. In 2012, five boxers, a swimmer and a footballer from the African nation vanished during the London Olympic Games .

What to expect from severe weather Sunday in SC
MnDOT has put cameras on many of its snow plows-you can see what road conditions are like before you head out here. A combined 25,000 were without power in Lexington and Richland Counties as of 5:15 p.m., according to SCE&G.

Beyoncé at Coachella Dubbed Beychella
As she finally took the stage in Indio, Calif ., Bey did not disappoint, delivering an epic performance that broke records. Beyonce a moment to prepare, she re-emerged being elevated to the stage in an unmistakable silhouette of three figures.

"This will be devastating to the company, given their reliance on United States products and software", Reuters quoted him as saying. Through its network of operators across 140 countries, the company delivers innovative products and business solutions.

The U.S. Federal Communications Commission on Tuesday plans to consider a ban on networking equipment from companies such as ZTE and Huawei (huawei).

The ban on supplying ZTE comes two months after two Republican Senators introduced legislation to block the USA government from buying or leasing telecommunications equipment from ZTE or its Chinese rival Huawei Technologies Co Ltd [HWT.UL], citing concern the companies would use their access to spy on US officials.

"We can't trust what they are telling us is truthful", the official continued.

The Commerce Department Denial Order also reversed the suspension of $300 million that was part of a $661 million civil penalty for its activities. (NYSE:S), and "has relied on US companies including Qualcomm Inc, Microsoft Corp and Intel Corp for components", according to Reuters.

"If they can't operate normally because of the USA export ban, that will clearly impact global and Chinese network construction and could affect future 5G rollouts", CICC analysts including Wang Xinglin wrote in a research note Tuesday.



Like this

Latest


16 April 2018
Mourinho slams United as they hand title to City
That didn't make me feel super happy and, in my opinion, it affected some of the people that were too happy. Previous times, we almost threw it away and that was a feature of every season we won it.

14 April 2018
Chelsea stars share blame for season - Conte
Me, my staff, the players and the club, about this season. "We must do this, and I'm sure that everyone wants to do this". If I play good, but we are not winning, I am not happy. "I didn't see many players going away then".

14 April 2018
Zuckerberg endures tough questioning over data
By the close of Wednesday's hearing, Zuckerberg had spent roughly 10 out of the previous 24 hours testifying before Congress. Zuckerberg said Facebook has the ability to detect when a foreign entity is attempting to buy a political advertisement.

13 April 2018
Trump says farmers will be better off after trade dispute
Such a search, he wrote, would have required "high-level approval" from the Trump-backed U.S. Trump's administration claimed his tax cuts would pay for themselves.

12 April 2018
Burlington joins national movement of support for Humboldt Broncos
But my wife said, 'No. "This being such an unfortunate tragedy, I think people come together", she continued. Friday, April 6 will be a day that won't be soon forgotten in Saskatchewan. "For those that survived".

12 April 2018
MotoGP's Valentino Rossi is 'Scared' of Marc Marquez's Riding Style
With six laps to go, Miller had a major moment at Turn 13 and gave up the lead to Crutchlow and dropped back from the lead battle. Nevertheless, the Argentina GP started with Miller in the lead but was quickly denied of his lead by a charging Marquez.

12 April 2018
Iniesta hints at departure to make a bad day worse for Barca
Roma advanced to the semi-final via away goals in a 4-4 aggregate result after losing the first leg 4-1 at Camp Nou last week.

11 April 2018
3rd death reported in IL linked to fake weed
The Illinois Department of Public Health has reported a third death linked to synthetic cannabinoids since early March. Public health investigation indicates that synthetic cannabinoids were likely contaminated with brodifacoum.

11 April 2018
Hamilton twists the knife... to the Max
Days after referring to Max Verstappen as a "dickhead", Lewis Hamilton claims that the youngster is letting his team down. He added to the media: "He is tending to make quite a few mistakes and it was unnecessary for him to do that".

09 April 2018
Split ties a feature on Davis Cup day one
The victor of the Valencia quarter-final will face either defending champions France or Italy for a place in the final. This is very special for David who we all love.



Recommended