Tue, Jun. 28, 3:58 AM
- The U.S. Commerce Department has extended the temporary lifting of sanctions on ZTE Corp. (OTCPK:ZTCOY) through Aug. 30, as the Chinese maker of telecom equipment tries to rebuild its reputation after allegedly breaking sanctions against Iran.
- The extension of temporary relief is good news for ZTE, which has been scrambling to cope with the potential damage on its global operations and brand image.
Fri, May 27, 4:20 PM
- Fresh off the launch of a new flagship handset, ZTE (OTCPK:ZTCOY +4.5%) is planning to give a boost to its smartphone sales by opening retail operations.
- The company will open 20 stores in major Chinese cities as well as getting a toehold in other countries with a store each in Germany, Russia and Mexico.
- It's the sixth-largest smartphone maker and China's second-largest maker of networking gear, according to Bloomberg. It rolled out its AXON 7 smartphone yesterday.
Thu, Apr. 28, 8:19 AM
Thu, Apr. 7, 3:28 AM
- ZTE Corp. (OTCPK:ZTCOY) plunged 10% in Hong Kong overnight, as shares in the telecom equipment maker resumed trading following a month-long suspension.
- The company has been rattled by U.S. investigations into its possible violation of export controls, and has called the outcomes of the probes "highly uncertain."
- Earlier this week, ZTE named a new management team in an apparent effort to turn the page on the affair.
Wed, Apr. 6, 10:10 AM
Tue, Apr. 5, 6:30 AM
- Just weeks after the U.S. government imposed tough export sanctions on the Chinese telecom equipment maker, ZTE Corp. (OTCPK:ZTCOY) has executed a "routine management reshuffle."
- Current CTO Zhao Xianming was named as the company's new President, while other top brass were dropped from the executive vice president list.
- The company shakes up management every three years, but the number of high-level changes were likely related to the U.S. export restrictions.
Sun, Apr. 3, 9:16 AM
- China's ZTE Corp.'s (OTCPK:ZTCOY) board will meet early next week to replace three of its most senior executives, in an apparent bid to see U.S. restrictions on its business lifted after it was accused of violating sanctions against Iran.
- Chief Executive Shi Lirong and executive vice presidents Tian Wenguo and Qiu Weizhao will step down, with Chief Technology Officer Zhao Xianming expected to assume the role of CEO and chairman.
- Previously: China's ZTE gets temporary reprieve on export curbs (Mar. 23 2016)
Wed, Mar. 23, 3:44 AM
- The U.S. Commerce Department is giving Chinese telecom equipment and smartphone maker ZTE Corp. (OTCPK:ZTCOY) a three-month reprieve on the tough export restrictions it imposed earlier this month after allegedly breaking sanctions against Iran.
- The easing, which will suspend the penalties as of Thursday, could be extended provided that ZTE is timely in performing undertakings and cooperates with the U.S. government in "resolving the matter."
- Previously: U.S. to provide ZTE with temporary export curb relief (Mar. 21 2016)
Mon, Mar. 21, 2:31 AM
- The U.S. government plans to temporarily lift trade sanctions against China's ZTE Corp. (OTCPK:ZTCOY), easing a source of tension between Washington and Beijing.
- Details of the commitments are expected to be published this week in the Federal Register.
- The U.S. slapped trade sanctions on the telecommunications supplier earlier this month, citing evidence ZTE violated sanctions on exporting American technological goods to Iran and other nations.
- Previously: China's ZTE delays annual results (Mar. 17 2016)
- Previously: ZTE said to appeal U.S. export ban (Mar. 16 2016)
Thu, Mar. 17, 8:51 AM
- China's ZTE Corp. (OTCPK:ZTCOY) is delaying the publication of its annual results because it needs to assess the impact of tough U.S. export restrictions imposed on the telecom equipment maker last week.
- The company's board meeting will also be postponed, while its Hong Kong-listed shares continue to be suspended.
- Previously: ZTE said to appeal U.S. export ban (Mar. 16 2016)
Wed, Mar. 16, 4:59 AM
- China's ZTE Corp. (OTCPK:ZTCOY) is likely to appeal tough U.S. export restrictions for alleged Iran sanctions violations, after the telecom equipment maker's costly lobbying effort failed to allay concerns about its business.
- The Commerce Department last week banned U.S. manufacturers from selling components to the company, a move that could disrupt its global supply chain and create substantial parts shortages.
- Trading in ZTE shares has been halted since March 7 in Hong Kong and Shenzhen.
Tue, Mar. 8, 3:09 AM
- China's ZTE Corp. (OTCPK:ZTCOY) is an unfamiliar name to many American consumers, but it is well known among U.S. technology vendors, who face a sudden roadblock in selling to the big customer.
- On Monday, the U.S. imposed export restrictions on the telecoms equipment maker over an alleged scheme to re-export controlled items to Iran.
- While ZTE isn't big enough that its loss would be a major financial blow to U.S. businesses, the big worry is about a possible backlash from China that could squelch demand for foreign components there.
- Previously: ZTE shares suspended amid U.S. probe (Mar. 07 2016)
Mon, Mar. 7, 4:49 AM
- The U.S. government has proved in the past decade that it can stop Chinese companies from buying American ones, but it can also eviscerate a Chinese firm's business by blocking access to American technology.
- That is the significance of reports that the U.S. Commerce Department may restrict exports of American products to Chinese telecommunications equipment maker ZTE (OTCPK:ZTCOY).
- The company, which suspended its Hong Kong-listed shares today, may have violated U.S. export rules on Iran.
Sun, Jan. 3, 9:16 AM
- When the Centers for Disease Control and Prevention published new guidelines 18 months ago regarding the radiation risk from cellphones, it used unusually bold language: "We recommend caution in cellphone use."
- Within weeks, though, the CDC reversed course. It no longer recommended caution, and deleted a passage specifically addressing potential risks for children.
- Mainstream scientific consensus currently holds that there is little to no evidence that cellphone signals raise the risk of brain cancer or other health problems. Nevertheless, more than 500 pages of internal records obtained by NYT, along with interviews with former agency officials, reveal a debate and some disagreement among scientists and health agencies about what guidance to give as the use of mobile devices skyrockets.
- Related tickers: NOK, AAPL, BBRY, MSI, SNE, VZ, TMUS, T, S, OTC:SSNLF, OTC:HTCXF, OTCPK:ZTCOF, OTCPK:ZTCOY
Feb. 25, 2015, 12:43 PM
- As of 2012, Cisco (CSCO -0.9%) had 60 products on a Chinese government list of products approved for purchase by state entities. As of late 2014, it had none, according to Reuters' analysis of government data.
- PC/server virtualization software vendor Citrix (CTXS +0.5%) has also seen its products disappear from the list, as have Apple (NASDAQ:AAPL) and Intel's (NASDAQ:INTC) McAfee security software unit. While the total number of products on the list has risen by over 2K since 2012 (to nearly 5K), the number of approved foreign tech brands has fallen by a third.
- The data highlights the ripple effects of the 2013 NSA spying uproar, as well as China's broader interest in promoting local tech firms relative to foreign suppliers. Bloomberg reported in December the Chinese government is "aiming to purge most foreign technology from banks, the military, state-owned enterprises and key government agencies by 2020."
- Cisco's Chinese sales have already been under heavy pressure for several quarters. Thanks in part to the government's efforts, the networking giant's Chinese orders fell 19% Y/Y in the January quarter, compared with just a 1% drop for other Asia-Pac markets.
- Lenovo (OTCPK:LNVGY), ZTE (OTCPK:ZTCOY), and Huawei are among the local firms likely to benefit from the government's attempts to buy local.
Dec. 29, 2013, 3:45 AM
- Huawei Technologies and ZTE Corp. (ZTCOF), which make Android and Windows phones, have reportedly asked China's Ministry of Commerce to make sure Microsoft's (MSFT) acquisition of Nokia's (NOK) mobile-handset unit won't lead to increased patent-licensing fees.
- When the EU approved the deal earlier this month, it said it would monitor Nokia's licensing practices.
ZTE Corporation is a leading global provider of telecommunications equipment and network solutions. Through its network of operators across 140 countries, the company delivers innovative products and business solutions. It connects global customers via voice, data, multimedia and WLAN. Founded... More
Industry: Telecom Services - Domestic
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