ZTE made false statements to the U.S. Government when they were originally caught and put on the Entity List, made false statements during the reprieve it was given, and made false statements again during its probation. ZTE pled guilty in a United States federal court to violating USA economic sanctions against Iran and North Korea. As a result ZTE paid up to $1.2 billion (£837 million) in fines.
Secretary of Commerce Wilbur L. Ross, Jr. announced that the U.S. Department of Commerce's Bureau of Industry and Security (BIS) has blocked ZTE from exporting technology from U.S. companies.
The penalty is steep, given that USA companies are believed to provide more than a quarter of the components used in ZTE telecom equipment and mobile devices. Some might also be a bit surprised about Levy's actions, though when you consider the United Kingdom is trying to brown-nose its way into favour with the U.S. government ahead of Brexit isolation, the two announcements coinciding makes much more sense. In March, however, the firm admitted that it hadn't disciplined the 35 employees, or even reduced their bonuses. Acacia Communications Inc, which got 30 percent of its total 2017 revenue from ZTE, tumbled 35 percent, hitting a near two-year low.
"This will be devastating to the company, given their reliance on USA products and software", said Jacobson. ZTE has relied heavily on the Dolby Atmos brand as a selling point of its smartphones, boasting that the devices' Dolby-branded speakers are among the best available. It might also be the first steps through the bureaucratic box ticking mission to officially ban ZTE. That means that any shipments by USA firms of parts to ZTE are blocked.
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The cosmetics included brands such as Kylie, MAC and Anastasia - the reality television celebrity Kylie Jenner's cosmetics line. He added that legitimate cosmetic companies adhere to health and safety standards, which is costly.
The company was supposed to take disciplinary action against multiple individuals at ZTE.
A five-year federal investigation found last year that ZTE had conspired to evade USA embargoes by buying US components, incorporating them into ZTE equipment and illegally shipping them to Iran.
The new restrictions stem from a January 16 report by a US monitor appointed by a federal judge in Texas who accepted the guilty plea in March 2017.
Allowing Huawei, ZTE, and other related entities access to US government communications would be inviting Chinese surveillance into all aspects of our lives.