ZTE said it's trying to negotiate with the us government to get the recent bans overturned.
ZTE said in an exchange filing it "maintains sufficient cash" for now and will meet its commercial obligations.
It was communicating with all the USA federal government "in order to facilitate the adjustment or alteration of the Denial get from the US government and invent a favorable impact within the maturation of issues". While the company also uses chips from Taiwanese firm MediaTek, those aren't powerful enough for ZTE's premium handsets - only Qualcomm's fit the bill.
During the meetings, Chinese officials said they also raised their objections to ZTE's punishment with the USA team, who they said agreed to report them to Trump. The Chinese vendor previously said that its business could be heavily impacted if the company fails to reach an agreement with the U.S government over the ban.
ZTE wasn't kidding around when it suggested that a U.S. Department of Commerce order would "severely impact" its survival. Talk of a trade war between the USA and China is now at an all-time high, and even the United Kingdom government is getting involved, having warned United Kingdom telcos not to use ZTE equipment.
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ZTE said on Sunday it had submitted a request to the U.S. Commerce Department for the suspension of the ban.
ZTE appears to have suspended its online stores on its own website as well as on Alibaba Group's e-commerce platform Taobao over the past few days, which display a "page being updated" message with no products to order.
Not only did ZTE agree to participate in routine monitoring and auditing, but it was also placed on a list of companies USA suppliers are banned from doing business with unless there is government approval.
One ZTE employee said manufacturing had ceased and workers are keeping busy with training, Nikkei reported. The employee, who declined to be named, said business trips had been halted. The decision came after it was revealed the company allegedly made false statements to USA officials.
The ban imposed on ZTE by the Department of Commerce makes it illegal for USA companies to sell any products and services to the company; but how did it reach this stage?