ZTE replaces its top executives and board to comply with Trump administration deal

The latest news in the long running ZTE saga has the company complying with a list of demands agreed to by the company and the Trump administration so that the crippling U.S. export ban could be lifted. The ban prevented the company from obtaining approximately a third of the hardware, software and components used by the company to produce a smartphone.

ZTE has already paid a $1 billion fine, and has agreed to place $400 million in escrow to cover any future misdeeds by the Chinese manufacturer. In addition, the company agreed to allow a U.S. team to be embedded inside ...

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