ZTE to pay $892M fine for violating the US trade sanctions

ZTE is about to feel the heavy boot of the US Department of Justice after it violated the trade sanctions against Iran and North Korea. The Chinese company imported smartphones with Qualcomm chipsets for years, including during the ongoing investigation. For this offense the company has to pay $892 million fine with $300 million to be paid if the agreement with the DOJ is violated, totaling to $1.19 billion.

ZTE Axon 7 – one of the phones, sold in Iran

The US trade sanctions against Iran and North Korea are some of the oldest embargoes the USA has against other countries because…