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August 20, 2016

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ZTE wins reprieve on US curbs

CHINESE smartphone maker ZTE Corp said it has won a further reprieve to November 28 on tough export restrictions that were imposed on the company by the US government in March.

ZTE would continue to cooperate with relevant US government departments to reach a final solution on the matter, the Shenzhen-based firm said in a filing to the Hong Kong bourse yesterday.

In March, the Commerce Department hit the company with some of the toughest-ever US export curbs for allegedly breaking sanctions against Iran. The agency offered the company a three-month relief from the curbs, later extended to August 30.



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