ZTE Corporation recorded a loss of $ 1 billion USD in 2018 due to the US government

ZTE Company

Company passed the ZTE difficult circumstances in the year 2018 after the imposition of the US government a huge fine because of violated trade sanctions imposed on Iran. As a result, the company found itself the centre of the highest annual loss, which amounted to 1.04 billion USD. This is largely due to a fine amounting to a million dollars paid by the American government. Crippled this step, the Chinese company to its knees, especially after having been to prevent American companies from working with ZTE Corporation.

In other countries such as Australia, was to prevent the use of equipment 5G of each of ZTE and fellow Chinese Huawei. As the restriction of some telecommunications companies in both New Zealand and Japan to work with the two companies, which ultimately led to the deepening of the financial losses are not expected to buy the ZTE. Despite all these penalties, the company was able to ZTE to achieve a profit of $ 41 million USD in the last quarter of 2018.

As one of the world’s leading companies in the field of telecommunications equipment, the company expects ZTE to continue to develop technology 5G and improve the digital security and to achieve a net profit of 179 million USD during this year. Given that we are going to launch 5G in many countries this year, we can expect a return of ZTE Corporation to profitability again after a year full of legal problems.

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