Will be back to normal by 2019
Production at China’s ZTE is back to normal after the lifting of a US ban and its carrier network business will return to a standard growth track in 2019, according to the firm’s newly elected chairman and chief executive.
China’s No. 2 telecommunications equipment maker was bought to its knees in April when the United States banned American firms from selling it parts, saying the company broke an agreement to discipline executives who had conspired to evade US sanctions on Iran and North Korea.
As part of the settlement deal with Washington, ZTE, which relies on US suppliers for core components, also overhauled its management team and appointed a new chief executive and chairman.
“We can definitely say the company is still in the front line in the communications industry”, CEO Xu Ziyang said at the meeting.
