ZTE has been banned for seven years because of violating US export restrictions and also banned for buying or using components from US technology firms.
The fifth largest telecom company maker was on at risk after they said that the “major operating activities of the company have ceased”. The company is still in talks with US Government for reversal of Denial Order. The Chinese government on last week spoke about the issue about ZTE with US Trade Delegates. This may have caused possible tension between the China and US Government.
ZTE has also removed its page from Alibaba’s website. ZTE said in the filing “the company maintains sufficient cash and strictly adheres to its commercial obligations subject to compliance with laws and regulations,” It’s still possible for ZTE to get back if they can resolve the issue immediately or else the company will have to drop out from the market.
