ZTE says to work with US over sanction
Print Edition
CHINESE telecom equipment maker ZTE Corp said it will continue to work with the US government to be fully removed from the Entity List after a temporary trade sanction relief was provided to the company yesterday.
On March 8, the United States announced export restrictions on ZTE and three affiliated entities for alleged violation of US export controls on Iran.
The US Commerce Department has added ZTE, ZTE Kangxun, Beijing 8-Star and ZTE Parsian to the Entity List under the Export Administration Regulations, accusing them of re-exporting controlled items to Iran.
The move was strongly opposed by China’s Ministry of Commerce and Ministry of Foreign Affairs. Foreign Minister Wang Yi called it an approach which will only hurt others without necessarily benefiting oneself.
ZTE will continue to invest heavily in its core technology and manage the company according to regulations to ensure healthy development, a spokesperson for the Shenzhen-based company said.
ZTE currently holds about 7 percent of the US smartphone market, making it the fourth-largest maker in the country after Apple, Samsung and LG.
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