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ZTE Guilty of Violating US Tech Sanctions

 1 min read / 

Chinese telecoms giant ZTE Corp will plead guilty and pay $892m over violations of US trade sanctions on Iran and North Korea.#

Editor’s Remarks: The International Emergency Economic Powers Act forbids the sale of American-made technology to several sanctioned countries, over which the US Commerce Department launched an investigation when ZTE was reported to have shipped millions worth of hardware and software from major US tech companies to Iran’s biggest telecoms carrier. The Chinese company, which is the fourth-biggest smartphone vendor in the US, has also pleaded guilty to obstruction of justice, making material false statements, and 283 illicit shipments to North Korea, which will complicated its already troubled image with US suppliers.

##What to watch: ZTE Corp, US Commerce Department, AT&T, T-Mobile US, Sprint Corp

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