China's ZTE tells major business operations cease because of unite states ban

As mentioned in HONG KONG (Reuters) - ZTE Corp's (0763.HK) (000063.SZ) major business operations have ceased because of a block imposed with the unite states government, however China's 2nd biggest telecom tools producer Information Systems trying to have the block modified or reversed, it told on Wednesday. REUTERS/Paul Hanna/File PhotoTaiwanese semiconductor Corporation Mediatek (2454.TW) told final 7 days it had received a permit from the Taiwanese Gov to still to supply ZTE. ZTE told on Sunday it had submitted a demand to the unite states Commerce section for the suspension of the ban. A ZTE employee told Reuters which staff had been reporting to work as normal however "with not much to do". Last month, the unite states Gov reactivated the block after it told ZTE violated terms of the settlement & made repeated false statements, which ZTE disputed.

Things are looking bleak as ZTE ceases major business operations

ZTE wasn't kidding around the time it proposed which a unite states section of Commerce order would "severely impact" its survival. Earlier today, in fact, the Chinese smartphone/telecom industrialist declared which it had ceased its major business operations as it attempts to figure out a best method forward. "As a result of the Denial Order, the major operating activities of the Corporation have ceased," the Corporation wrote in an interchange filing spotted with Reuters. Non-U.S. players such as Taiwanese chip producer MediaTek have been stepping up in the meantime, however even with which support, it's tough to imagine ZTE efficiently rallying. has announcly unlocked up a similar inquiry into fellow Chinese phone maker, Huawei.

Things are looking bleak as ZTE ceases main business operations