US reaches a deal to lift ZTE export ban, after paying a fine the company will return


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According to reports directly from US commercial congress, the country reached a deal on Friday that will lift the export ban that has condemned the Chinese manufacturer ZTE to stop its business. This whole mess started some months ago when the U.S Department of Commerce discovered that ZTE was violating some export sanctions imposed on Iran, then the U.S court imposed some restrictions and obligations to ZTE in order to keep their business with the country, the company failed to comply with the agreement and then the states decided to ban the Chinese manufacturer from sourcing hardware, software or components from the Mr.President Trump’s country.

No much details have been revealed about this “act of kindness” from the U.S, anyway, in exchange for lifting the ban, ZTE has agreed to pay a substantial fine to the country. Furthermore, the company will need to restructure its management team, also, the U.S will put some compliance officers inside the company to oversee if the company is committed to fulfilling this agreement. The ban was originally meant to last until 2025, we just hope that ZTE does all the necessary requirements in order to come back to business.

This intense relationship between ZTE and US started back in 2012 when a congressional report declared that both ZTE and its Chinese mate Huawei were considered threats to the national security. This year, the mother of Axon smartphone was the fourth largest brand in the U.S based on sales numbers achieving an amount of 10% of the stateside market during 2018 Q1.

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We just hope that this agreement keep going smooth and soon ZTE get back on track with its technology and smartphones department, after all, a lot of company’s enthusiasts had their hearts breaking when the company was forced to stop the development of their future smartphones like the newest ZTE Axon flagship smartphone.

 

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