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."

Comments

First time

[Not-a-Neg]

First time I heard someone say it was regarding Iran sanctions as opposed to xenophobia. Almost as if all the previous stories were #FakeNews.

Re:Unfortunate

[Dishevel]

Fuck them.
Assholes circumventing the sanctions were fucking with the US bull.
With US bulls you do not just get the horn, you get it repeatedly shoved up your ass till you are dead, then 6 more times just for shits and giggles.