Friday, 24 November 2017

US fine pushes ZTE into the red

By Nick Wood, Total Telecom
Wednesday 08 March 17

Chinese vendor warns of €323.4 million full-year loss on Iran export settlement.

ZTE on Wednesday warned that it will swing to a full-year loss after the U.S. fined it $1.19 billion (€1.13 billion) for illegally shipping network equipment to Iran and North Korea. The company published preliminary full-year results showing a net loss attributable to shareholders of 2.36 billion yuan (€323.36 million), down from a year-earlier profit of CNY3…

ZTE on Wednesday warned that it will swing to a full-year loss after the U.S. fined it $1.19 billion (€1.13 billion) for illegally shipping network equipment to Iran and North Korea. The company published preliminary full-year results showing a net loss attributable to shareholders of 2.36 billion yuan (€323.36 million), down from a year-earlier profit of CNY3…

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