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Ban VS cost Chinese telecomfabrikant ZTE 925 million euro

The Chinese telecomfabrikant ZTE last year to 7 billion yuan (925 million euro) loss suffered by a ban on the trade of the United States. That reports Reuters.

In april 2018 explained to the American president Donald Trump, the company sanctions, because it has dealt with Iran and North Korea. Suppliers from the U.S., such as Google, Intel and Qualcomm, if ZTE no parts supply.

The ban eventually lasted a few months, instead of the required seven years, but this was enough to make the profit of ZTE go down. In 2017 posted ZTE a profit of 4.6 billion yuan (608 million euros).

Despite the loss, do the shares of ZTE is still relatively good. This is because there is a lot of profit is expected as soon as the 5G technology can be further rolled out. China wants to be the leader in 5G.

The relationship between China and the United States is still tense. In early march, accused the Chinese phone manufacturer Huawei, the U.s. government, because of the productverbod that the United States, the company has imposed.

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