USA bans American companies from selling to China's ZTE
USA bans American companies from selling to China's ZTE
U.S. companies banned from selling components to ZTE
17 April, 2018, 18:49
Just one year later, the DoC says it will be exercising that clause after finding that, while negotiating that settlement, ZTE had lied to the department's Bureau of Industry and Security. The company's USA suppliers, including Qualcomm and Acacia, will be barred from sending their hardware to China for ZTE to use. Likewise, the ban also means that that the maker of the popular Snapdragon processor is out a revenue stream for the next seven years. Along with a huge penalty of $1.19 billion, ZTE can't use the hardware and software from the USA companies for the next seven years. ZTEagreed to a criminal and civil fine of $1.19 billion in 2017, and in addition to this, said it would fire four of its executives and either reprimand or cut back bonuses of 35 other workers. Trading in ZTE shares were suspended today in response. The suspension was reversible if ZTE failed to comply with the agreement or violated additional rules.
ZTE uses a number of US suppliers, including Intel, Microsoft, Micron Technology and Qualcomm. Other impacted companies include Lumentum Holdings, Finisair Corp, and Oclaro Inc, all of which do (or did) substantial business with ZTE. It resulted in the USA government's decision to ban American companies from selling or exporting any sensitive components to ZTE for seven years.
ZTE officials did not immediately respond to requests for comment. The biggest stinging point of this ban lies in ZTE's loss of access to Qualcomm components, including the Snapdragon line of SoCs.
ZTE was accused to circumventing USA sanctions on Iran back in 2016. "Many banks and companies even outside the U.S. are not going to want to deal with them", said Eric Hirschhorn, a former U.S. Undersecretary of Commerce who was heavily involved in the case.
The U.S. government recently put pressure on telecommunications companies to stop buying Huawei networking equipment and consumer electronics products.
Mashable has reached out to ZTE to get its take on the accusations Secretary Ross and his department are levying against ZTE.
The UK's National Cyber Security Centre (NCSC) warned Monday the UK telecommunications sector against using Chinese state-owned Zhongxing Telecommunications Equipment (ZTE) company's equipment and services, citing security risks.
It is playing to concerns that the continuing trade tension between the United States and China could turn into a full-blown trade war, which would be damaging to the U.S. economy. ZTE also sells handset devices to USA mobile carriers.
Companies could be banned from selling components to ZTE for up to seven years.
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