Just now! ZTE Announcement: Affected by the rejection order, the company's main business activities can no longer be carried out!

On the evening of May 9, ZTE issued an announcement stating that the company currently has sufficient cash and adheres to its commercial credit under the premise of legality and compliance. The company and related parties are actively communicating with relevant departments of the US government to promote the US government to adjust or cancel the denial order and promote things to develop in a positive direction.

ZTE stated in the announcement that the company's announcement released on April 20, 2018 mentioned that BIS issued an order to activate the denial order. Affected by the denial order, the company's main business activities can no longer be carried out.

In addition, it was recently reported online that ZTE may sell its mobile phone business due to the US ban. On the afternoon of May 9, a media report said that ZTE is promoting the sale of its mobile phone business due to the US ban. ZTE Terminal has not yet commented on this.

In April this year, the U.S. Department of Commerce announced that it would ban U.S. companies from selling parts, goods, software and technology to ZTE for seven years. ZTE recently announced that it had submitted an application to the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce to suspend the ban.

The US ban will undoubtedly have a huge impact on ZTE's mobile phone business. The supply of key components such as CPUs will leave it without rice. There are also speculations that ZTE mobile phones may also be banned from using the Android system, but this has not been confirmed.

Currently, ZTE's mobile phone business is mainly in overseas markets. According to ZTE Mobile, based on third-party data, ZTE Mobile ranks fourth in the United States, Canada, and Mexico, fifth in Spain and Russia, third in Australia, and eighth in global shipments.

However, ZTE's mobile phones are still mainly based on the model of cooperation with operators and have not made any efforts in the open market. At the same time, due to fierce competition, its market share in China is also in a continuous decline.

ZTE is also seeking change. In March this year, ZTE announced that it would establish ZTE Terminal China to strengthen the development of its mobile phone business in the Chinese open market. ZTE Terminal China will be responsible for mobile phone operations in China. From the original business department to the current operating subsidiary, ZTE Terminal China will have greater operating rights. ZTE said it will provide support in terms of products, channels, brands and talents.

However, the US ban has once again cast a shadow on efforts to change this.

Media reports say that ZTE is pushing forward the sale of its mobile phone business, and the parties currently involved in the negotiations include Huawei, OPPO, Xiaomi and other companies. These potential participants are very hesitant about whether to take over.

ZTE Terminal has not yet commented on this.