ZTE Ceases Major Operations in the US Following Ban

ZTE requests that US Department of Commerce suspend seven-year ban

ZTE sent an internal memo to its employees stating that the firm has been "proactively communicating with relevant departments of the U.S government", according to the South China Morning Post.

ZTE said it maintains sufficient cash and will strictly adhere to its commercial obligations.

ZTE, which also makes smartphones, had said the ban threatened its existence by cutting off access to US suppliers of key components like microchips. In a statement given to the Hong Kong Stock exchange, ZTE said it has, "taken steps and is taking steps to comply with the denial order".

ZTE was accused of violating USA sanctions on North Korea and Iran, as well as lying to U.S. officials.

ZTE, which also makes smartphones, had said the ban threatened its existence by cutting off access to US suppliers of key technology and components like microchips. The Chinese mobile giant then lied to investigators when it declared the dealings had stopped. Others note the actions against ZTE could foreshadow the effects of a U.S.

The company posted a press release stating it had shut down major operations due to the denial order issued by the U.S. government.

Rep. Devin Nunes says he'll push to hold Jeff Sessions in contempt
House Majority Whip Steve Scalise (R-La.) told the news program he supports Nunes. The next step will be going to court to try to enforce the committee's subpoena.

The company did not immediately respond to a request for more information.

The Department of Commerce determined ZTE made false statements to the Bureau of Industry and Security specifically in 2016 and 2017.

ZTE may not be the most well-known brand in the United States, but just last year it was the fourth-largest smartphone vendor in the region, and it has offered some mold-breaking products such as last year's dual-screened Axon M.

ZTE Corp's (0763.HK) (000063.SZ) main business operations have ceased due to a ban imposed by the US government, but China's second biggest telecom equipment maker is trying to have the ban modified or reversed, it said on Wednesday.

Last month, the US government reactivated the ban after it said ZTE violated terms of the settlement and made repeated false statements, which ZTE disputed.

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