ZTE Corp. has announced it is ceasing its core business operations, the Wall Street Journal reports, in the wake of the US government’s ban on American companies selling components to the Chinese telecommunications firm.
Yesterday ZTE wrote in a regulatory filing that “major operating activities of the company have ceased,” although details on the cessation remain unclear. The company, currently the fourth-largest seller of phones in the US, operates in several different markets such as consumer electronics and telecommunications infrastructure.
Last week ZTE appealed to the US Commerce Department for the ban to be suspended, providing additional information on request. The department has said it is considering the application and will give it “prompt consideration.”