Chinese telecom giant ZTE has accused the US Bureau of Industry and Security (BIS) of threatening its very survival and possibly affecting American companies after it issued the firm with a denial of export privileges.
Consumer activists are calling on Chinese smartphone maker ZTE to clarify whether U.S. sanctions against the firm will prevent it from providing operating system updates for its Android devices.
ZTE is now being sanctioned for selling phones with USA made components in Iran. Furthermore, ZTE violated an agreement it had with the federal government by failing to discipline 35 of its employees who were involved with the sale.
The U.S.is also not alone in asserting itself against China - he United Kingdom's National Cyber Security Centre warned companies against using ZTE's parts and services, as doing so poses risks to national security in its opinion.
ACIA fell more than 34% to a record low of $26.00 while OCLR was down 17%. "We're going to have to see how this unfolds".
Beijing Beetch and other Chinese makers of chips and electronic components gained in mainland China trading on expectations that the United States ban on the purchase of key technology by ZTE will be a catalyst for China to increase support for its home-grown semiconductor industry.
Meanwhile, the company's former chairwoman Sun Yafang worked in China's Ministry of State Security, an intelligence and security agency, for many years before joining Huawei in 1992, according to Chinese media reports.
The US government slapped a seven-year ban on its purchase of components from US companies for ignoring promises made in 2017 to resolve a sanctions dispute - then lying about it.
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It is possible that ZTE will be facing a serious problem if the problem with the USA commerce department is not solved soon. With that said, none of Mediatek's current lineup of SoCs is capable of matching up with the likes of Qualcomm or Exynos.
Yan said ZTE designs many of its own chips but also needs technology from outside suppliers.
Republican U.S. senators have also introduced legislation that would block the U.S. government from buying or leasing telecoms equipment from Huawei or ZTE.
One key area of concern is whether ZTE will be able to continue to sell phones running Google's widely used Android operating system.
Even before Donald Trump got into the White House and raised the prospect of a trade war with China, Beijing was aiming to reduce its reliance on foreign technology.
In a further escalation of rhetoric over trade, foreign ministry spokeswoman Hua Chunying responded Friday to reports the U.S. Treasury Department is considering using an emergency law to curb Chinese investments in sensitive technologies.