ZTE Walks Tightrope after U.S. Trade Authorities Slap Export Ban

(Beijing) – The second-largest maker of telecoms gear in China is scrambling to get off a U.S. export blacklist that threatens to dry up supplies of critical components.

"The investigations are still in progress, and may result in criminal and civil liabilities under U.S. laws," ZTE Corp. said on April 6, when it released its earnings figures for 2015.

U.S. authorities have been investigating ZTE since 2012 over allegations it sold software and equipment containing components made in the United States to Iran through shell companies to get around U.S. trade sanctions, people close to ZTE said.