Tag Archives: Export

China’s ZTE Revises 2015 Profit After US Export Curbs

April 11, 2016 Comments Off on China’s ZTE Revises 2015 Profit After US Export Curbs

Chinese telecom equipment maker ZTE Corp revised down its 2015 net profit on Wednesday due to export curbs imposed by the US Commerce Department for alleged violations of sanctions against Iran. Shenzhen-based ZTE said its 2015 net profit rose 22 percent to CNY 3.2 billion ($493.3 million or roughly Rs. 3,277 crores). On January 19, the company reported a preliminary ... Read More »

China’s ZTE Said to Appeal US Export Ban After Lobby Efforts Fail

March 16, 2016 Comments Off on China’s ZTE Said to Appeal US Export Ban After Lobby Efforts Fail

China’s ZTE Corp will appeal tough US 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 US suppliers providing crucial components to ZTE for alleged Iran sanctions violations, a move likely to disrupt its ... Read More »