ZTE finally gets the export restriction lifted off after two weeks of turmoil, which seriously took away its competitive edge.
US government has imposed some tough export restriction on the Chinese telecom equipment’s provider ZTE just a few weeks back. Export restriction came upon ZTE due to its alleged activity of selling the US manufactured equipment’s to the Iran. After being coerced by the Chinese officials US government has decided to lift those restrictions for a temporary period with an assurance that such a breach will not pass in future.
ZTE feels relived after lifting up of restrictions
ZTE is completely based in China but it heavily depends upon the parts from some acclaimed US firms like Qualcomm and Intel in order to provide highly competitive products. This restriction has simply cut off the supplies from the US manufactures, which has taken away it competitive edge in the market. ZTE business has taken a hit in the past few weeks due to the restrictions and with restrictions being removed ZTE can bounce back in the international market with ease and grace.