Company's losses approach $280M USD for the last 9 months
Chinese phonemaker and telecommunications equipment maker, ZTE Corp. (SHE:000063) is currently under intense scrutiny by the U.S. government, which is considering banning sales of its products in the world's most lucrative telecommunications market. ZTE stands accused of funneling U.S. telecommunications parts to Iran, in brazen violation of U.S. trade laws. A congressional panel suggested that general dishonesty and opportunism on ZTE's part could lead the firm to implant spying technology for the Chinese government, necessitating a ban.
Even as ZTE vocally denies those charges, the company faces an even tougher fight against drooping financials. On Monday Reuters carried an announcement made by ZTE at the Hong Kong Stock Exchange, in which the embattled firm said its 9-month loss would likely swell to 1.65B yuan ($263.3M USD) and 1.75B yuan ($279.2M USD), a fall of 260 percent from last year.
Interestingly, ZTE said its sales were adversely impacted by the Iranian situation, though the reports did not mention how exactly. Presumably increased U.S. scrutiny has helped to stomp out the flow of U.S.-made parts via ZTE, in turn killing the profits ZTE was enjoying by its illicit scheme to funnel top-quality electronics at marked up prices to Iran's state-owned telecommunications company -- Telecommunication Comp. of Iran (TCI).
The death of ZTE's scheme to illegally funnel U.S. electronics to Iran has hurt ZTE profits.
A slowing global economy has also dented ZTE's margins and sales revenue, including in its home nation of China. ZTE over the last few years has been widely viewed as a rising star of the consumer electronics market; but now that optimism has been significantly dampened.
Source
It won't be long before they plead for an FTA with us
Chinese phonemaker and telecommunications equipment maker, ZTE Corp. (SHE:000063) is currently under intense scrutiny by the U.S. government, which is considering banning sales of its products in the world's most lucrative telecommunications market. ZTE stands accused of funneling U.S. telecommunications parts to Iran, in brazen violation of U.S. trade laws. A congressional panel suggested that general dishonesty and opportunism on ZTE's part could lead the firm to implant spying technology for the Chinese government, necessitating a ban.
Even as ZTE vocally denies those charges, the company faces an even tougher fight against drooping financials. On Monday Reuters carried an announcement made by ZTE at the Hong Kong Stock Exchange, in which the embattled firm said its 9-month loss would likely swell to 1.65B yuan ($263.3M USD) and 1.75B yuan ($279.2M USD), a fall of 260 percent from last year.
Interestingly, ZTE said its sales were adversely impacted by the Iranian situation, though the reports did not mention how exactly. Presumably increased U.S. scrutiny has helped to stomp out the flow of U.S.-made parts via ZTE, in turn killing the profits ZTE was enjoying by its illicit scheme to funnel top-quality electronics at marked up prices to Iran's state-owned telecommunications company -- Telecommunication Comp. of Iran (TCI).
The death of ZTE's scheme to illegally funnel U.S. electronics to Iran has hurt ZTE profits.
A slowing global economy has also dented ZTE's margins and sales revenue, including in its home nation of China. ZTE over the last few years has been widely viewed as a rising star of the consumer electronics market; but now that optimism has been significantly dampened.
Source
It won't be long before they plead for an FTA with us
(H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment and network solutions has been ranked India’s Topmost Broadband Infrastructure Co. for the year 2011-2012 as per the Voice & Data 100 survey 2012 ( Cyber Media ). The award was given by Shri. R. Chandrashekhar, Chairman Telecom Commission & Secretary Department of Telecommunication .The award recognizes ZTE’s efficiency in strategizing and implementing cost effective broadband infrastructure and it’s contribution to the economic growth in India. 
