China's ZTE will take 'certain actions' against USA ban

27 April, 2018, 00:56 | Author: Lynette Payne
  • US Ban On ZTE Pushes China To Ramp Up Chip Development

The Wall Street Journal says that the worse- case scenario facing Huawei is a similar USA export ban. ZTE is now facing a seven year supply ban for selling its devices in the Middle Eastern country.

In 2017, ZTE posted revenues of CNY108.8 billion (US$17.27 billion), surging 7.5% on year. The company already caught the attention of the USA government back in 2012 for its rumored ties with the Chinese government.

In a cryptic message shared via Reuters on Wednesday, ZTE said it planned to take "certain actions" under us law to counter the ban, but what exactly that means remains unclear.

ZTE has already paid $890 million in fines and penalties and could face additional penalty of $300 million for violation of U.S. export sanctions. The growing demand for 4K HRD TVsets has also helped ZTE register good shipment numbers for its fixed-network broadband products.

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"Despite extremely challenging circumstances, the board of directors and managers of the company will try their best to protect 80,000 staff members' legitimate working rights and the interests of their families", said Yin Yimin, chairman of ZTE Corp.

Trade tensions between the United States and China have been escalating ever since President Trump initiated protectionist policies against Asian superpower.

China has achieved major advancements and strong competitiveness in such industrial sectors as display panels, passive components, LED, computer chassis, and PV power. China now still relies on foreign makers for the supply of over 90% domestic chip demand, and can hardly see a clear future for its semiconductor industry despite aggressive deployments in wafer foundry, IC design and memory production. After the latter was slapped with a crippling sanction for violating the US' export sanctions against Iran, it was really only a matter of time before Huawei gets the same treatment.

"We depend on a limited number of customers for a significant percentage of our revenue and the loss or temporary loss of a major customer for any reason could harm our financial condition", said Acacia in the filing. 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. ZTE was banned from purchasing components from U.S. suppliers, including access to Google's Android operating system.

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