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Commerce Department Eyeing $1.7 Billion Fine Against ZTE

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Jun 2, 2018, 10:24 AM   by Eric M. Zeman   @zeman_e

ZTE may have to agree to a heavy fine and sweeping management changes if it wants to resume operations. The Trump administration is prepared to levy up to $1.7 billion in fines against the company to punish it for violating the terms of an earlier settlement. Further, the Commerce Department wants "unfettered site visits" to ensure that ZTE is using U.S. parts as intended. The company may also be required to bring in a wholly new management team. In April, the Commerce Department banned ZTE from using U.S. parts and software for its devices, effectively putting ZTE out of business. The company ceased major operations in May. Sources cited by Reuters indicate that final terms of the settlement are not set and may change. Despite the Trump administration's work to get ZTE back in business, some senators believe ZTE represents a security threat and deserved the punishment. They are working to keep the ban in place.

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Mark_S

Jun 2, 2018, 10:50 AM

Zhongxing Telecommunication Equipment Corporation

Will be interesting how ZTE responds.
I still have their premium version of the Axon 7 as a backup phone.
Still a stellar phone!
 
 
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