ZTE has reportedly lost $3.1 billion as a result of the brand’s US ban

According to reports by Bloomberg Chinese mobile giant ZTE has lost roughly $3 billion in terms of income and profit as a result of its factory halting productions due to its US ban.

Currently, the brand is the fourth largest mobile supplier in  the US and a halt from its major market cripples the entire system of the brand.

According to the report by Bloomberg the brand has continued to spend an average of 80 million to 100 million yuan on workers who have been made idle by the halted production of devices by the brand.

Early last week, the President of America had sent out a tweet that he was in talks with the brand to get them back in business as fast as possible.

Let us however, anticipate that this move would be finalized as soon as possible, because this loss is bad for business.

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hussaini
hussaini
2 years ago

What a bad news to hear from them,hope they recover soon.