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Chinese phone manufacturer ZTE has suspended all major operations following a seven-year ban on importing phone parts from the U.S., the company announced on Wednesday.
"As of now, the Company maintains sufficient cash and strictly adheres to its commercial obligations subject to compliance with laws and regulations," ZTE's note reads. "The Company and related parties are actively communicating with the relevant U.S. government departments in order to facilitate the modification or reversal of the Denial Order by the U.S. government and forge a positive outcome in the development of the matters." Read more...
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