ZTE faces $3 billion in losses from US ban

Jamie McKane

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ZTE faces $3 billion in losses from US ban

ZTE Corp. is estimating losses of at least 20 billion yuan ($3.1 billion) from a U.S. technology ban that’s halted major operations as clients pull out of deals and expenses mount, people familiar with the matter said.

The telecoms gear and smartphone maker however is hopeful of striking a deal soon and already has a plan in place -- dubbed “T0” -- to swing idled factories into action within hours once Washington agrees to lift its seven-year moratorium on purchases of American chips and components.

[Bloomberg]
 
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