ZTE terms US ban ‘unfair,’ says it endangers company’s survival
A few days after the United States banned all American company’s from selling “Commodity, Software or Technology” to ZTE for seven years, the Chinese company has termed the move unfair, saying it threatens the very survival of the firm.
Here’s what exactly ZTE said:
It is extremely unfair to ZTE and we cannot accept it!
Refusal orders will not only seriously endanger the survival of ZTE, but also hurt the interests of all ZTE’s partners including a large number of US companies
The ban has the potential to affect ZTE severely. Not only the company will not be able to use Qualcomm chipsets in its mobile devices, it could lose its Android license as well. Even China will feel the heat as ZTE has been actively involved in the development and commercialization of 5G-related technologies in the Asian country.
Trading for ZTE stocks has already been halted in Hong Kong and Shenzhen, and the firm has also postponed the release of its quarterly earnings due to the ban.
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