ZTE calls USA export ban "unacceptable"

The ZTE Axon

Government reports have also accused both ZTE and Huawei of being security threats to the US.

If the ban stays as it is for the next seven years, ZTE's future looks grim, facing a possibility that the company might not last that long.

Sales to ZTE had accounted for 30% of Acacia's overall revenues in 2017 and 32% in 2016.

The DOJ's actions follow a larger pattern of the US increasingly cracking down on Chinese firms.

At the moment, ZTE is China's second largest telecom equipment supplier, next to Huawei.

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The prohibition had been imposed in March a year ago, when ZTE agreed to pay $892.3 million to settle the United States investigation into the sanctions case. "There was no discussion of helping ZTE advocate before the USA government". The U.S. also has taken actions aimed at reducing access to the U.S.by ZTE and Chinese tech company Huawei Technologies Co Ltd amid allegations the companies could be using their technology to spy on Americans. Within ZTE, compliance is regarded as the foundation and bottom-line of the Company's operation.

ZTE will definitely be hit hard, but it won't be alone.

On April 19, China's Ministry of Commerce (MOC) said that the US action against ZTE will damage itself.

China has achieved major advancements and strong competitiveness in such industrial sectors as display panels, passive components, LED, computer chassis, and PV power. Chinese battery and electric carmaker BYD, chip maker Taiwan Semiconductor Manufacturing Corp. Throw in the fact that ZTE continued to obstruct investigations during the probationary period, and it should come as no surprise that the Department of Commerce came down hard on the company. Huawei was effectively driven away due to "political pressure," and now ZTE is facing a threatening ban on using United States exports in its products for seven years.

In any case, ZTE will not give up its efforts to resolve the issue through communication, and we are also determined, if necessary, to take judicial measures to protect the legal rights and interests of our Company, our employees and our shareholders, and to fulfill obligations and take responsibilities to our global customers, end-users, partners and suppliers. Accordingly, once USA suppliers are prohibited from selling equipment and components to China, such major players as Broadcom and Skyworks may also face substantial losses.

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