ZTE is now expecting to report huge losses according to a new report. As many may know by now, the Chinese company became the subject of a major supply ban imposed by the US Commerce Department last month, with this ultimately affecting the company’s business on a global scale. And now, according to Bloomberg, ZTE will post losses of up to $3.1 billion because of it.
The figure in question would take into account both lost sales since the ban, and the termination of contracts with companies that have since dropped ZTE. But, the company could be set for even more financial woes. After all, ...
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