ZTE Cautions on Financial Impact of US Trade Woes

ZTE warned expected US trade sanctions imposed on the company are likely to hit its financial results, and a settlement could result in a fine.

The US government hit the China-based vendor with sanctions in March last year after the company allegedly breached the country’s export rules to Iran. The US initially granted temporary relief up to November, and then extended the reprieve by another 90 days to 27 February 2017.