US$1b fine reprieve for ZTE

US$1 billion is a hefty sum to pay for a fine but for ZTE, it means getting its business back on track.

It took the intervention of US President Donald Trump and China Premier Xi Jinping to help China’s second-ranked telecom equipment maker to get the ban on buying vital components from US suppliers lifted.

Reuters reported that ZTE Chairman Yin Yimin sent a memo of apology to clients, shareholders and business partners and said the firm would look to learn from its errors and hold those responsible accountable.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.