Chinese company news ZTE

China's smart phone maker ZTE is on its way to resuming its activities after recent sanctions by the US authorities over the alleged violation of US sanctions on Iran and North Korea.

The Chinese authorities have decided to impose a ban on Chinese company ZTE, which is to prevent companies from supplying the Chinese company with the components of the smart phone industry Qualcomm processors, because of accusations by the authorities of violating the embargo imposed by the United States of America in both Iran and North Korea, and extends The US decision on ZTE for a period of seven years will cause the Chinese company to suffer very large losses, which eventually led to the announcement of the suspension of its main activities and the suspension of its plant in Shenzhen province in China.

US President Donald Trump said in a tweet on Twitter on May 13 that he and Chinese President Xi Jinbin were working together to solve the problem of ZTE, one of China's leading smart phone companies, to find a quick solution. Especially with the threat of losing many jobs.

US President Donald Trump has allowed the Chinese company ZTE to return to the US market and supply smart phone components from US companies in exchange for an agreement to pay a fine of $ 1.3 billion, as well as changes in the governance sector and the board by introducing US officials in the council.