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GSMArena.com - Latest articles
GSMArena.com is the ultimate resource for GSM handset information. This feed contains the latest articles (news and reviews) in chronological order. 
ZTE posts a loss in final quarter of 2016 due to US fine
Mar 23rd 2017, 14:00

ZTE was accused of violating US trade sanctions against Iran and North Korea and the company plead guilty to those charges. It has agreed to pay a settlement of $892 million, a fine that pushed the company's bottom line in the red - a $760 million loss for the final quarter of 2016. The company could be on the hook for another $300 million if it violates the conditions of the settlement. The quarter before that ZTE posted a profit of $158 million, but the fine was big enough to put the company's profits for the whole 2016 into the negative - a $343 million loss, instead of the expected...
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