0
General

ZTE to pay USD 892 mln in fines in US sanctions case

Wednesday 8 March 2017 | 08:45 CET | News
ZTE has agreed to pay USD 892.36 million in fines for violating US sanctions. The company reached a settlement with the US Department of Justice and Department of Commerce's Bureau of Industry and Security that will see it avoid another USD 300 million in penalties if it complies with a number of changes to its business aimed at avoiding the violations in future. The deal with the DoJ is subject to court approval, and ZTE will be subject to independent audits for the next seven years to ensure its compliance.

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: ZTE
Countries: United States / World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Europe stuck in the middle as US-China telecom trade war looms

Published 30 Apr 2018 16:52 CET | Europe
The threat of a global trade war initiated by the US has spread to the telecom sector. From blocking takeovers, such as Qualcomm ...

ZTE to seek talks, legal action against 'unfair' US export ban

Published 20 Apr 2018 08:48 CET | United States
ZTE said it will seek talks with US officials and take legal action if necessary, after the US government "unfairly" imposed a ...

ZTE banned from buying US components for 7 years

Published 17 Apr 2018 08:58 CET | United States
ZTE has been banned from buying components or parts from the US for seven years, after the US Commerce Department said the ...

White House looking into tariffs against Chinese tech, telecom imports - report

Published 14 Mar 2018 08:57 CET | China
After recently setting new tariffs on the import of aluminum and steel, US President Donald Trump is preparing new ones, but this ...

FCC proposes fine on DataConnex for allegedly defrauding rural health care programme

Published 01 Feb 2018 08:42 CET | United States
The Federal Communications Commission proposed a USD 18.715 million fine against DataConnex for apparent violations involving the ...

US bill looks to stop US govt from working with Huawei, ZTE

Published 15 Jan 2018 09:09 CET | United States
A new bill has been introduced to Congress to prohibit any part of the US government from working with Chinese telecom equipment ...

ZTE planning launch of 5G smartphone in the US

Published 12 Jan 2018 09:45 CET | United States
China's ZTE hopes to launch a 5G smartphone in the US early next year or even at the end of this one, Lixin Cheng, CEO of the ...

ZTE forecasts FY profit of CNY 4.3-4.8 billion

Published 26 Oct 2017 17:32 CET | World
ZTE said it expects net profit for the full year 2017 to reach CNY 4.3-4.8 billion. That follows a net loss of CNY 2.357 billion ...

ZTE hires former NTIA official to lead US govt relations

Published 29 Aug 2017 16:27 CET | United States
ZTE USA announced the appointment of Angela Simpson as vice president, US Government Affairs. She will be based in Washington, DC ...

FCC fines Dialing Service for unlawful robocalls

Published 17 Jul 2017 11:30 CET | United States
The Federal Communications Commission (FCC) issued a USD 2.88 million fine against a New Mexico-based company, Dialing Services, ...

US widens sanctions investigation against Huawei - report

Published 27 Apr 2017 10:49 CET | United States
US officials are widening their investigation into whether Huawei Technologies violated US sanctions against Cuba, Iran, Sudan ...

FCC fines Advantage Telecommunications USD 1 mln

Published 26 Apr 2017 10:57 CET | United States
The Federal Communications Commission issued a USD 1 million fine against a Florida-based long distance carrier, Advantage ...

ZTE promotes US chief to head global smartphone business

Published 20 Apr 2017 10:04 CET | United States
ZTE has picked the head of its US business to lead its mobile phone business globally, the company told Reuters. ZTE appointed ...

VS heft restricties ZTE op na schuldbekentenis en boete

Published 29 Mar 2017 10:06 CET | China
Het Amerikaanse ministerie van Economische Zaken haalt ZTE van de zwarte lijst nadat het Chinese telecombedrijf heeft toegegeven ...

ZTE confirms US settlement, annual results

Published 23 Mar 2017 15:47 CET | China
ZTE has confirmed its annual results and said its settlement of sanctions violations in the US has been confirmed. The earlier ...

ZTE posts FY loss on fines, sales up just 1%

Published 09 Mar 2017 09:13 CET | China
ZTE reported a net loss of CNY 2.357 billion for 2016, hurt by fines for violating US sanctions. Revenues rose just 1 percent to ...

ZTE gets 1-month extension waiving US export restrictions

Published 27 Feb 2017 09:40 CET | United States
ZTE announced that it received another one-month extension of its exemption for US export restrictions. ZTE said earlier this ...

ZTE expects fine in US sanctions settlement

Published 14 Feb 2017 10:43 CET | China
ZTE announced that it's in talks on settling charges in the US that it violated sanctions against Iran. The company said the ...

ZTE names US-based export compliance officer

Published 15 Nov 2016 09:52 CET | United States
ZTE appointed Matthew Bell as the company's chief export compliance officer and legal counsel. Bell will also serve as the chief ...

ZTE names new CEO

Published 05 Apr 2016 13:53 CET | World
ZTE has announced the appointment of CTO Zhao Xianming as its new chairman and CEO, replacing Shi Lirong, who has been in the ...

ZTE granted reprieve in US export restrictions

Published 23 Mar 2016 10:09 CET | China
ZTE has been given a reprieve in the export restrictions imposed by the US, until the end of June. Earlier this month the company ...

US to give some sanction relief to ZTE - report

Published 21 Mar 2016 08:52 CET | United States
The US government plans to temporarily lift trade sanctions against ZTE , the Wall Street Journal reported, citing a senior ...

ZTE confirms US restrictions on suppliers

Published 09 Mar 2016 08:42 CET | United States
ZTE has confirmed that suppliers shipping products to the company from the US will be subject to export restrictions by the ...

ZTE to face US export restrictions

Published 07 Mar 2016 08:56 CET | United States
ZTE announced a halt in trading in its shares pending an announcement on the US Commerce Department's proposal to implement ...

Cisco ends partnership with ZTE over sales to Iran

Published 08 Oct 2012 15:21 CET | China
Cisco Systems has terminated a long-term sales partnership with Chinese telecoms equipment maker ZTE after an internal ...

ZTE faces FBI probe over sales to Iran - report

Published 16 Jul 2012 13:14 CET | United States
The FBI has opened a criminal investigation into ZTE over the Chinese company's sale of banned equipment to Iran and its alleged ...

ZTE halts growth in Iran business

Published 28 Mar 2012 09:29 CET | Iran (Islamic Republic of)
China-based ZTE said it is no longer seeking to expand in Iran. While it has provided standard communications and network ...





Calendar   /   Industry Events

23 Aug Mobilezone H1 2019
25 Aug VMworld 2019 US
26 Aug Amaysim FY results
26 Aug Chrous FY results
26 Aug Bezeq Q2 2019
27 Aug Partner Communications Q2 2019
27 Aug Ooma Q2 2019
27 Aug ZTE H1 results
27 Aug MNF Group FY results
27 Aug Hewlett Packard Enterprise fiscal Q3
27 Aug Aviat Networks fiscal Q4
27 Aug Tamedia H1 2019
27 Aug Connected Health Summit
29 Aug SeaChange fiscal Q2
29 Aug Cyfrowy Polsat Q2 2019
29 Aug Bouygues Telecom Q2 2019
29 Aug Marvell Technology fiscal Q2
29 Aug Dell Technologies fiscal Q2
29 Aug Tech Data fiscal Q2
29 Aug Axiata Q2 2019
29 Aug Tele Columbus AGM
30 Aug Telekom Slovenije AGM
30 Aug 5G Leadership Summit 2019
::: More Calendar Items