ZTE says the US export ban will “severely impact” its survival

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Chinese technology company ZTE issued a statement today in response to the US government’s banning of American exports to the company. The US Department of Commerce says ZTE didn’t uphold a plea agreement after the company pleaded guilty last year to illegally shipping US equipment to Iran and North Korea. The department specifically says the company still gave employees who acted illegally full bonuses, despite saying it wouldn’t. Additionally, only four senior staffers were fired out of the 35 who reportedly violated the law, Reuters reported.

Now, four days after the ban, ZTE says it tried to comply with the US and invested “tremendous resources in export compliance.” It says, “the Denial Order will not only severely impact the…

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