The U.S. Commerce Department has slapped a seven-year ban on U.S. sales to China’s ZTE (OTCPK:ZTCOF) for breaking terms of an agreement reached last year after it was found to be illegally shipping goods to Iran.

Caught in the crossfire is Qualcomm (NASDAQ:QCOM), whose products account for the lion’s share of chips inside ZTE smartphones.

Qualcomm is also grappling with regulatory approval in China for a takeover of NXP Semiconductors.



READ SOURCE

MUST READ  United Airlines sees 6.5% higher traffic in March
SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here