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ZTE Shuts Down Main Business Operations After US Ban (techcrunch.com)
An anonymous reader quotes a report from TechCrunch: ZTE wasn't kidding around when it suggested that a U.S. Department of Commerce order would "severely impact" its survival. It's hard to image a successful path around the seven-year ban on the sale of U.S. products to the company imposed after it reportedly failed to sufficiently reprimand staff for flouting Iranian sanctions. Earlier today, in fact, the Chinese smartphone/telecom manufacturer announced that it had ceased its main business operations as it attempts to figure out the best way forward. "As a result of the Denial Order, the major operating activities of the company have ceased," the company wrote in an exchange filing spotted by Reuters. "As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject in compliance with laws and regulations."
Then you haven't been paying attention, moron. The Iran sanctions were mentioned in the reports that initially came out.
That is all.
What this will do is motivate Chinese companies to accelerate their shift away from the use of any kind of American IP, services, or subsystems.
In the end, all Chinese tech companies are going to have a fully Chinese-sourced technology "stack" for all of their products, so that they can sell to whomever they please without worrying about the US government.