32 Facts About ZTE

ZTE Corporation is a Chinese partially state-owned technology company that specializes in telecommunication.

ZTE primarily sells products under its own name, but it is an OEM.

In 2017, ZTE was fined for illegally exporting U S technology to Iran and North Korea in violations of economic sanctions.

The ban was lifted in July 2018 after ZTE replaced its senior management, and agreed to pay additional fines and establish an internal compliance team for 10 years.

ZTE made an initial public offering on the Shenzhen stock exchange in 1997 and another on the Hong Kong stock exchange in December 2004.

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That same year saw ZTE find a customer in the Canadian Telus and membership in the Wi-Fi Alliance.

In March 2017, ZTE pleaded guilty to illegally exporting U S technology to Iran and North Korea in violation of trade sanctions, and was fined a total of US$1.

ZTE was allowed to continue working with U S companies, provided that it properly reprimand all employees involved in the violations.

However, the Department of Commerce found that ZTE had violated these terms and made false statements regarding its compliance, having fired only 4 senior officials and still providing bonuses to 35 other employees involved in the violations.

On 9 May 2018, ZTE announced that, although it was "actively communicating with the relevant U S government departments" to reverse the export ban, it had suspended its "major operating activities" and trading of its shares.

On 7 June 2018, ZTE agreed to a settlement with the Department of Commerce in order to lift the import ban.

ZTE agreed to pay a US$1 billion fine, place an additional US$400 million of suspended penalty money in escrow, replace its entire senior management, and establish a compliance department selected by the department.

In January 2019, it became public that ZTE has retained the services of former senator Joe Lieberman as a lobbyist.

In 2022, ZTE was accused of violating its probation from its guilty plea for sanctions violations.

Mixed ownership model of ZTE was described as "a firm is an SOE from the standpoint of ownership, but a POE [privately owned enterprises] from the standpoint of management" by an article in The Georgetown Law Journal.

ZTE has several international subsidiaries in countries including Indonesia, Australia, Germany, the United States, India, Brazil, Sri Lanka, Myanmar, Singapore, and Romania.

ZTE has subsequently disposed of the majority of its equity in the company.

ZTE is a major shareholder and was instrumental in the creation of the company in 2007 but holds a minority of the shares in the entity.

ZTE operates in three business segments: carrier networks, government and corporate business, and consumer business.

ZTE was reported to have developed identification cards for Venezuela that were allegedly used for tracking and social control.

In November 2017, ZTE announced the Axon M The two screens can run separate applications, or spread one app over the combined display size of 6.

In 2020, ZTE released the world's first under-display camera smartphone, the Axon 20 5G.

In 2021, ZTE announced a new flagship device, the Axon 30 Ultra, focusing on high-end camera experience.

At Mobile World Congress 2014 in Spain, Microsoft announced that ZTE is the latest hardware partner of Windows Phone platform.

Many Chinese companies are ZTE customers, including China Netcom, China Mobile, China Satcom, China Telecom, and China Unicom.

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ZTE began to release smartphones in the United States in 2011.

ZTE elected to focus its efforts on low-cost products for discount and prepaid wireless carriers, including devices with premium features typically associated with high-end products, such as large high-resolution screens and fingerprint readers.

In May 2016, ZTE became the co-sponsor of German club Borussia Monchengladbach.

Since 2015, several U S National Basketball Association teams have had sponsorship deals with ZTE, including the Houston Rockets, Golden State Warriors, and New York Knicks.

Norwegian telecommunications giant Telenor, one of the world's largest mobile operators, banned ZTE from "participating in tenders and new business opportunities for 6 months because of an alleged breach of its code of conduct in a procurement proceeding" during a five-month time span ending in March 2009.

Contracts with ZTE to build a broadband network for the Philippine government reportedly involved kickbacks to government officials.

In December 2010, ZTE sold systems for eavesdropping on phone and Internet communications to the government-controlled Telecommunication Company of Iran.