Tech News / ZTE News

ZTE Expects To Lose Over $1B In H1 2018 Due To U.S. Ban

Posted On: Jul 13, 2018   |   Posted By: Android Headlines

ZTE believes it lost between $1 billion and $1.35 billion over the course of the first half of the year due to the U.S. Commerce Department's denial order from April, the company said as part of its latest preliminary financials published earlier today. The Chinese original equipment manufacturer attributed the majority of that deficit to the sanction that has now partially been lifted, though some stateside lawmakers are still looking into the possibility of reinstating the ban, which would effectively sentence the company to bankruptcy.
One report from late May indicated ZTE believes its clash with the Commerce Department will cost it over $3 billion once immediate losses are added with the long-term consequences of its damaged reputation that already saw it dropped by some clients. In total, the company may be looking at a hit amounting to some 20-percent of its 2017 turnover which becomes even more problematic with regards to the fact that ZTE is unlikely to repeat its last year's performance in the near...

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