Business

ZTE is estimated to lose $3.1 billion due to US ban

If you are following the latest news you certainly know that ZTE finds itself in hot water, after the US firms were banned from supplying it due to its breach of trade embargo.

Following that the company was forced to cease its main operations, resulting in substantial losses. Now a new report from Bloomberg tries to put those loses in more specific numbers.

The report says that ZTE is estimated to lose $3.1 billion until an agreement is reached and it can resume its opeartions.

The number could grow bigger if the expected agreement between US and Chinese governments doesn’t come as quickly as expected. ZTE claims it is ready to get back on track in a matter of hours once a deal is stuck.

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