China’s ZTE said it has ceased major part of its operation in the United States after a ban imposed by the US government.
ZTE said in a statement that it is still working to find a resolution.
The company said the decision had been made as a result of a US government denial order issued in April, which bars US companies from selling components to ZTE for a period of seven years.
“As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject to compliance with laws and regulations,” it stated.
“The company and related parties are actively communicating with the relevant US government departments in order to facilitate the modification or reversal of the Denial Order by the US government and forge a positive outcome in the development of the matters.”
ZTE said it would make additional announcements regarding the issue as “soon as practicable”.