The US and ZTE reach an agreement
The United States and ZTE reached an agreement. The ZTE crisis finally lifted Shenzhen flexible circuit board manufacturers. Jing Guan Ying Electronics came to watch the latest news hotspots in the electronics industry. A 7-year ban on the purchase of goods from US suppliers. This storm, which lasted for nearly two months, finally ushered in a quiet day.
The report said that US Commerce Secretary Wilbur Ross told CNBC on Thursday morning (US time) that the agreement reached included a penalty of USD 1 billion for ZTE and an additional USD 400 million in escrow to prevent any future occurrence. Violations. In addition, the United States will send an executive team to ZTE Corporation. ZTE will replace its board of directors and senior management team within 30 days.
Shenzhen flexible circuit board manufacturers
At present, the US Department of Commerce, the White House and ZTE did not immediately comment on the news.
The calm of this storm is good news for ZTE and the US government. Although ZTE paid a large price in exchange for settlement, at least the resolution of the crisis will enable ZTE to maintain rapid development in the future, and actively seize the opportunity in the 5G development process to achieve industry leadership. According to reliable sources, ZTE's supply chain capacity has not been substantially affected. With the lifting of the ban, its capacity will quickly return to normal.
This agreement, Jing Guan Ying Electronics, as a Shenzhen flexible circuit board manufacturer, dare not say that ZTE products will definitely gain a place in the United States, but at least provides a good opportunity for ZTE. I hope that ZTE's opportunity in exchange for a huge price is worth it. I also wish ZTE can successfully promote the development of China's flexible circuit board manufacturers.